Weekly Highlights 01 July 2011

This is the table that accompanies the weekly economic review article at Global Economic Intersection:  Economic Soft Patch and Oil Price Band-aids

Weekly Economic Release Scorecard:

Item Headline Analysis
June Michigan Sentiment
Remains at Recession levels
May Construction Spending
Yes down YoY, but is up MoM – broke 2 month down trend
June ISM Manufacturing
It is only up and better than last month if you listen to CNBC
July Economic Forecast

Economic soft spot will continue in July
May Pending Home Sales Index
Up 8.2%
Here is a case where up is down – and pending home sales actually is foretelling a 20% decline YoY in June home sales
June Consumer Confidence
Doug Short puts these disappointing numbers into context
April Case-Shiller Home Prices
Up / down
The unadjusted index is up, the analysis says it is not up as the past historical Spring bounce
Oil Stockpile Release

Elliott Morss provides background info, and potential effects of this release
May Personal Consumption Expenditures
Inflation adjusted data is down
Latin America

Elliott Morss & Diego Gauna do a complete evaluation including economic vulnerability and resiliency

Henrik Isakson evaluates importance of exports and imports
1Q2011 GDP

Rick Davis takes a second look and believes QE3 may be on the horizon

Dirk Ehnts takes a look at this new currency

Bradley Lewis plays out where this crisis may be going
USA President

Frank Li has ideas how to make this political office work better
Financial Profits

Lance Roberts correlates increasing financial profits to degradation of economic prosperity
Deficits & Debt

Elliott Morss argues against immediate budget costs suggesting economic damage will result
India Anti-Corruption

Ajay Shah identifies 3 paths to make headway
Greece Crisis

Dirk Ehnts offers an insiders view, and illustrates media disinformation
QE2 & Economy

Jon Markman argues Fed’s actions only prevented deflation and did little for the economy
USA Investment Outlook

MacroTides details events which must fall into place for a market run up
Russia, India & China

Sanjeev Kulkarni reviews how this trading block is picking up steam
Trading Week

Jeff Miller looks at why the markets are so volatile
Brazil, India & China

MacroTides looks at investing in these economies which are expected to slow