For Latin Daily Financial News – Ricardo Rodríguez
American economy is clearly slowing down generating the big question on if the economy will only slow down or if a new recession is coming affecting the rest of the world. According to the Fed's Beige Book data disclosed yesterday, American economy shows minimum growth and actual stagnation. Durable goods demand fell for second consecutive month triggering more doubts on the growth promised by president Obama.
Dow Jones, Standard & Poor and Nasdaq fell due to these bad economic presages on an economic recovery which becomes weaker every day. Retail sales showed a slight increase during past month, meanwhile home sales and construction sector are still weak and bank credit is restricted. Durable goods sector fell 1 per cent instead of the awaited growth of 1.1 percent which never arrived.
On the other side, European fiscal crisis was worse than expected, being forced to pay the worst public finance countries debts.
The result is a more compromising external environment than past trimester.
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