US

Roubini Says:

• US job data extremely mediocre
• Sees advanced economies growth below potential
• Eurozone growth ‘weak at best’
• U.S.; Japan both at risk of double dip recession
• Bumpy road for recovery
• Hopefully we can avoid the double dip recession
• Fiscal adjustment in spain ‘Not Enough’
• US economy slowing
• Any stimulus in the U.S. wouldnt be meaningful
• Sees fiscal drag next year of as much as 1.5% of GDP

Good Morning:

Factory Orders:                           Survey:  0.2%   Actual: 0.1%   Prior: -1.2%  Revised: %

Pending Home Sales(MoM):   Survey: -1.0%   Actual: 5.2%   Prior: -2.6%  Revised: %

Pending Home Sales(YoY):                    Actual: -20.1%   Prior: -20.1%  

Durable goods orders was measured on August 25 with data coming out at 0.30% which is revised with the factory orders report which has came out at 0.10%.  

Nonfarm Productivity:        Survey: -1.9%         Actual:  -1.8%        Prior:  -0.9%       

Unit Labor Costs:           Survey: 1.2%         Actual:  1.1%         Prior:  0.2%        

Jobless Claims:             Survey: 475K    Actual: 472K    Prior: 473K    Revised: 478K   

Continuing Claims:         Survey: 4450K    Actual: 4456K    Prior: 4456K    Revised: 4479K

Chicago Purchasing Manager:                    Survey: 57.0         Actual: 56.7         Prior: 62.3