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May 07, 2004

Industrial Output Unexpectedly Drops 2.3%...

Economic growth in the first quarter ``will be weaker than we had originally expected,'' said Holger Fahrinkrug, an economist at UBS AG in Frankfurt, the only one of the economists surveyed to predict a decline. ``In the U.S. and Asia, things are going really well and we're not getting our share in Germany.''

The production report is the third in as many days to confound economists' predictions. German factory orders unexpectedly fell for the second time in three months in March and joblessness rose for a fourth month in April.

Maybe John Kerry's running in the wrong country.

Meanwhile...

Back in the US, consumer confidence rises to a three-month high.

No, no cowbell! Goodness, it's just a three-month high; we have to have standards here. But the trend is up, and it will remain up.

Update: den Beste puts a little meat on the bones of our "Maybe John Kerry's running in the wrong country" remark.

We can taste John Kerry's pain. It's tenderlicious.

posted by Ace at 04:11 PM

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Economic growth in the first quarter ``will be weaker than we had originally expected,'' said Holger Fahrinkrug, an economist at UBS AG in Frankfurt, the only one of the economists surveyed to predict a decline. ``In the U.S. and Asia, things are going really well and we're not getting our share in Germany.'' The production report is the third in as many days to confound economists' predictions. German factory orders unexpectedly fell for the second time in three months in March and joblessness rose for a fourth month in April. Maybe John Kerry's running in the wrong country. Meanwhile... Back in the US, consumer confidence rises to a three-month high. No, no cowbell! Goodness, it's just a three-month high; we have to have standards here. But the trend is up, and it will remain up. Update: den Beste puts a little meat on the bones of our "Maybe John Kerry's running in the wrong country" remark. We can taste John Kerry's pain. 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