Tuesday, December 16, 2008

Slow Economic News Day

Blogging hampered by school closures caused by weather these last two days and looks like tomorrow might be worse. No matter, not much going in the economy these days.

Oh, there are a few notes. First look at this excellent graphic from The Oregonian.
This really reveals the sequence of the contraction in Oregon. Starts with construction and then brings down financial activities (makes sense - mortgages, etc.) and manufacturing and high tech (manufacturing first, now high tech is crashing). Then comes the steep declines in trade, retail, leisure and hospitality.

Here are the rest of today's headlines:

Here it comes: deflation.

Oregon's housing market is wallowing.

And finally the Fed hits the zero interest rate bound.

Like I said, not much happening today, perhaps tomorrow will be a bit more interesting...

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