On the economic front life is not so good in Barack Obama’s world. We’re starting to reap the results of the Obama Euro-Socialist policies, and please note the final point, the Eurozone isn’t recovering. Guess what, neither is Barack Obama’s United States.
•Trade gap widens The deficit unexpectedly widened to $43.0 billion in Sept., from a modestly downwardly revised $40 billion in Aug. Exports declined 1.5% as the global economy slowed, while imports were unchanged. The gap in goods ex petroleum widened to $47.2 billion from $45.5 billion.
•Factory orders dipped 0.6% in Sept. less than the 0.7% expected. It was the second straight monthly decline. Shipments rose 0.1% in Sept., but unfilled orders rose 0.3% to the highest level since government record keeping began in 1992.
•Same-store sales declined 1.6% in the Nov. 1 week, ICSC-Goldman said, taking the yearly change down to 1.8% from 2.8% the week before. The group blamed weather, this time unseasonable warmth.
•Eurozone recovery seen delayed The bloc won’t see even modest growth for at least another year, the European Commission said as it trimmed its forecast. It now sees GDP growth of 0.8% in 2014 and 1.1% in 2015, and doesn’t expect 1.7% growth until 2016, a year later than in previous forecasts, due largely to a drag from France and Italy. The commission also halved its forecast for the German economy, projecting 1.1% growth in 2015 rather than the 2% previously seen.
We think it’s precious that the decline in same store sales is blamed on global warming.
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