Sage Advice Quarterly Market Review 3Q2004

Let the name game begin. Economists and business journalists are scrambling to find the most appropriate label for the economy’s latest phase. The descriptions range from a “June swoon” to a “summer meltdown”, with a variety of interpretations filling the extremes. Underpinning this verbal assault, of course, is the latest batch of indicators that reveal a perceptible slowing in economic growth, following a long period of steadily building momentum. The most conspicuous turn of events has been in the labor market, where the rollicking gain in jobs during March and April was followed by slower growth in May and a downright disappointing increase in June. Meanwhile, orders for durable goods softened during the spring, industrial production slumped in June and retail sales fell in two of the last three months.

  • DATE: September 30, 2004

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