In the wake of March's tepid jobs creation, it may be time to take a harder look at this soft patch.
Even ahead
of Friday's employment report, concerns were mounting about a growing
pile of weak data. JPMorgan's economic research team cut their first
quarter GDP growth forecast to a mere 0.6 percent on Thursday, citing
poor consumer spending data.
Recent
manufacturing data have also looked especially bad, with the ISM
manufacturing index's March reading showing the slowest growth since May
2013. Separately, housing market indicators have been mixed, perhaps
due to the harsh winter weather.
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