Is the Economy Really Slowing Down?
(NEW YORK) -- A small rise in layoffs reported by the Labor Department on Thursday and disappointing home sales for March, plus signs of slowing manufacturing activity, are fanning fears about the recovery.
Meanwhile in Europe, bond interest yields have been rising in recent days.
After several months of optimism about growth, some experts are casting doubt about the strength of the U.S. and global economy. Christine Lagarde, managing director of the International Monetary Fund, warns of “dark clouds on the horizon.”
But many economists and market watchers say it’s too early to draw any conclusions.
“We’re going to have to give it another couple of weeks and see if this trend continues,” says Art Cashin of UBS Financial.
Asked for his view of the latest jobs and housing figures, David Abuaf, chief investment officer of Hefty Wealth Partners, says, “Even though the numbers look bad at first, the more research and the more work that we do, the better the figures look.”
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