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Thursday, February 02, 2012

Lacklustre Data Releases

Data released today shows:
  • a drop in Britain's Construction PMI
  • a rise in U.S. Job Cuts
  • a drop in U.S. Unemployment Claims (which are still at higher average levels than from 2000 to 2009)
  • a sharp drop in U.S. Nonfarm Productivity
  • a sharp rise in Unit Labour Costs
as shown on the graphs below.

So, basically, we have a situation of fewer people being less productive at higher company costs in the U.S. and a continuing drop in Britain's business conditions. These figures do  not bode well for a healthy business environment for either country that would support sustainable growth, without increasingly higher inflation in the short, medium, and long term, in my opinion.