Although second quarter reports look strong, the economy may start to level out.
- Fear of an economic slowdown caused the stock markets to dip.
- Airlines are expected to make their first annual profit since 2007 due to fuller planes and higher fares.
- Stronger Asian economies are increasing exports, which helps struggling U.S. shipping companies.
- Despite all this, there has been poor job growth in the U.S in the past few months.
Facts and Figures
- New home sales fell 33%, and existing home sales fell 2.2%.
- Air shipments (mostly Asian exports) increased 30% from last year.
Best Quote
“Bottom line is earnings may hold up, but sales growth is slow and companies aren’t going to invest their record cash holdings until it improves.” – Howard Silverblatt, Senior Index Analyst of Standard & Poor
Tags: asia, economic slowdown, economy, exports, real estate, stock market