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  • Affordable Energy Media Campaign

    This is a press release issued by NAM today directly from John Engler, President and CEO . Congress returns from its summer recess next week, and high on the agenda will be proposals from President Obama and congressional leadership to raise taxes on America’s energy sector. These potential tax...
  • Still Limping Along

    The August employment report shows an economy that continues to struggle to gain any momentum. Net job creation totaled a meager 60,000 last month (when one excludes the loss of temporary decennial census positions) and the unemployment rate crept higher to 9.6 percent. While a 60K average upward revision...
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  • House of Cards

    Now that the distorting effects of the federal homebuyer tax credits have worked their way through the system, demand is deteriorating and the market appears to be retrograding toward an eventual equilibrium at a lower price level. Sales of existing single-family homes fell by more than 27 percent during...
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  • Diamond in the Rough (or just A Shiny Piece of Coal?)

    Amidst all the growing concerns over a double-dip recession, the manufacturing sector has stood out as one of the U.S. economy’s strongest performers. In fact, manufacturing has been the only major sector to come anywhere close to textbook V-shaped recovery. That good fortune continued during July...
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  • The Summertime Blues Continue

    Consumer spending, or a lack thereof, has been one of the key missing elements to the economic recovery. Unfortunately, that trend continued in July as core retail sales (excluding autos and gasoline) slipped for the second time in the last three months. Of course, any rebound in consumer spending is...
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  • Is the Recovery Stuck in Neutral?

    That might be the conclusion one could draw given what was contained in the July employment report . Excluding the loss of 143,000 temporary Census 2010 jobs, payrolls registered a meager net increase of 12,000 in July while June’s initial estimate for ex-Census employment was revised significantly...
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  • Sifting for Gold

    Today’s first take on real GDP growth for 2010Q2 showed the U.S. economy expanded at an annualized rate of 2.4 percent and 3.2 percent in the past year. This is roughly in line with the average rate of real GDP growth during the post-WWII era, but given the fact that growth tends to be above-average...
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  • What’s next now that the punch bowl is empty?

    The bad news for the housing market continues to mount (see here , here and here ). The dreaded payback effect from the homebuyer tax credit is causing sales to look particularly weak right now. However, the excess supply situation, which has been a big issue for several years already, will continue...
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  • Manufacturing a recovery, but still a ways to go

    The manufacturing sector’s rebound has been one of the major linchpins for the broader U.S. economic recovery. Indeed, manufacturing has been the only sector close enough to exhibit a textbook V-shaped recovery, although the current rebound doesn’t quite stack up to the sharp V-shaped recoveries...
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  • Storm clouds on the horizon

    Today’s jobs report doesn’t paint the picture of a robust economic recovery. After excluding the 225,000 net decline in Census 2010 workers, total payrolls increased by 100,000 during the month of June. Construction and financial activities remained sore spots, shedding nearly 40K on net...
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