US Economic
Outlook: Ludlow Capital Group
Ludlow Capital Issues Client Note
on Recent Market Conditions
Last Updated: Nov. 15, 2008 –6:00pm EST
NEW YORK—Unless you have been living under a rock for the past two
months, there is no doubt now that the US economy has moved into
recession levels, but risk still remains that this situation could
still potentially spiral into a shallow depression if not handled
correctly.
US Economy
The US unemployment rate jumped from 6.1% to 6.5% in Sept. and shows
the first effects on corporations cutting back on costs, and Ludlow
Capital projects the unemployment rate to possibly move up to, and
potentially above, 7% for the month of October.
The consumer pull-back since mid-September is nothing less then
historic and breath taken, and was reflected in recent declines in
retail sales. In all projections, the coming Christmas season may be
one of the weakest holiday shopping seasons in a generation.
Ludlow Capital has an unemployment target of 9% to 11% for 2009, with
continued weak consumer spending moving into mid-year 2009.
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