The general business conditions index fell four points to -7.7, its third consecutive negative reading.
This was the first negative reading since December 2010 and the lowest level for the index since August 2010.
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Any positive reading for EVA Momentum is good because it means EVA has increased, and any negative reading is bad.
But he added that, "this probably pushes us over the threshold into a negative reading for GDP in the fourth quarter".
In another ominous sign that the U.S. economy is slowing, labor productivity decreased 0.3% in the second quarter, while first quarter productivity was revised from an increase to a negative reading and input costs rose.
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That was its 6th straight negative reading.
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There was the first drop to a negative reading by the Leading Economic Indicators in nine months, the largest decline in durable goods orders since last August, big plunges in new home starts and permits for future starts.
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Preliminary CPI figures out of Germany were consistent with forecast levels of 0.1%, but the euro area M3 money supply figures showed a surprise drop with a reading of negative 0.2%.
"December is a big month for construction because we've had really bad snow for the last two Decembers, so that may yet save us from a fractionally negative (GDP) reading, " he said.
The Empire State manufacturing index released by the New York Federal Reserve showed a reading of (negative)- 7.8 for June, compared with expectations for a positive 12.
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After seeing the price of gold continue to climb and reading all the negative news in the press these days about housing, I decided to check into the most recent advisory from our resident gloom and doom economist Gary Shilling.
Its last reading was a significant negative surprise, showing a decline from 68.0 in February to 59.7 in March.
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The index was predicted to ease by less than two points from 5.3 in July, but in the event a sharp downturn in the expectations gauge between both private and institutional investors caused a dramatic slump in the index to negative 13.5 and the lowest reading since September 2009.
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The survey's broadest measure of manufacturing conditions fell to negative 41.3 in February, from negative 24.3 in January, its lowest reading since October 1990.
It is currently at its lowest reading of all time, and is negative for just the second time ever (the first time was in October 2008, around the peak of the financial crisis).
Parents will think the risks of vaccination are much higher after reading testimonials from parents whose children had negative reactions, in spite of having seen statistical information that says the risks are low.
Aaron Task of Yahoo Finance has a piece well worth reading, which covers both the publicly stated current negative arguments regarding the stock and his own rebuttals on the positive side.
The transports ended the week with a negative weekly chart profile with declining momentum (12x3x3 weekly slow stochastic) reading and a weekly close below the five-week modified moving average at 5108.
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The weekly chart for the Dow shifted to neutral not negative as its 12x3x3 weekly slow stochastic or market momentum (what I refer to as MOJO) reading remained above 80.00 at overbought reading of 83.99.
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