And That’s The Week That Was: 11.16.07

November 16, 2007 |

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Attached please find And That’s The Week That Was, weekly economic commentary for the week ending 11.16.07 by Brounes & Associates.  While a strong labor market had been one savings grace for the economy for the past few months, this week’s jobless claims data showed a larger than expected increase in filings for unemployment benefits. Some analysts (the more optimistic of the bunch) point out that the California wildfires and the writers’ strike prompted the sudden rise in claims and the trend (one week, thus far) will be reversed in the weeks to come once normalcy (if there is such a thing) returns. The manufacturing sector also depicted some newfound weakness as October industrial production suffered its worse decline in nine months. Next week bring Thanksgiving (and Black Friday) and the beginning of a full month of analysis, over-analysis, retailer bellyaching, and investor skepticism…all just in time for the holidays. ‘tis the season? Bah Humbug!

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