Not Impressed by NABE Forecasts
Source: http://feedproxy.google.com/~r/smallcappulse/feed/~3/djGXm5D3ilQ/Posted on Monday, April 20th, 2009 | In Market Commentary, Small & Micro Cap
April
20, 2009 ndash; We
have not been impressed by the National Association of Business Economics
(NABE) forecasts on the economy for years, if ever ndash; but it nonetheless
continues to provide us with its insights. This morning NABE released its Industry
Survey which presents the responses of 109 NABE members for the period of March
23, 2009 to April 1, 2009:
The
primary takeaway from NABE is that there is ldquo;Fresh evidence that the US
economyrsquo;s recession is abatingrdquo;, in as much as key indicators are
still declining but the breadth of the decline is narrowing. The April survey
showed better (less negative) results for industry demand, profit margins,
employment, capital spending and credit conditions.
We
hope NABE is right, but then it was so slow to acknowledge the extent of the
recession (see ldquo;NABE
Finally Gets to the Partyrdquo;) that we wouldnrsquo;t be surprised to
see it prematurely advocating that the economy is getting back on track.
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