• The Bad News

    by  • September 10, 2010 • politics & money

    Barry Riholtz invites David Rosenberg to deliver the bad news at The Big Picture. Headline: It’s A Depression.

    Finally, you know it’s a depression when, 33 months after the onset of recession…

    • Wages & Salaries are still down 3.7% from the prior peak

    • Corporate profits are still down 20% from the peak

    • Real GDP is still down 1.3% from the peak

    • Industrial production is still down 7.2% from the peak

    • Employment is still down 5.5% from the peak

    • Retail sales are still down 4.5% from the peak

    • Manufacturing orders are still down 22.1% from the peak

    • Manufacturing shipments are still down 12.5% from the peak

    • Exports are still down 9.2% from the peak

    • Housing starts are still down 63.5% from the peak

    • New home sales are still down 68.9% from the peak

    • Existing home sales are still down 41.2% from the peak

    • Non-residential construction is still down 35.7% from the peak

    via IT’S A DEPRESSION | The Big Picture.

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