Manufacturing activity in the mid-Atlantic region unexpectedly surged in November. The Philly Fed’s Business Outlook Survey index jumped to 22.5 in November from 1 in October, its highest reading since December 2009.
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While everyone hates inflation, deflation has instant emotional appeal: Who doesn’t like a bargain? But deflation is a far more serious economic problem than inflation — and, as we found, most folks don’t really know why. Do you? If not, no worries: Economist Gary Shilling will explain the reasoning. [Video]
Continue reading Street Smart: Do You Know What Deflation Is? [Video]
Street Smart: Do You Know What Deflation Is? [Video] originally appeared on DailyFinance on Wed, 17 Nov 2010 12:00:00.
Filed Under: Economy, Investing, Currency, Video, Ask an Expert, Streetwise
The nation’s struggle to prevent deflation is apparently only just beginning. The 12-month core rate (excluding food and energy prices) fell to a record low 0.6% from 0.8% in September. Clearly, the Fed has more work to do.
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China’s bull run may be over as investors pulled money out of the market, forcing the Shanghai Composite down 1.9% and Hong Kong’s Hang Seng Index down 2%. In Japan the Nikkei 225 Index was nearly flat.
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The Dow tumbled Tuesday as part of a global sell-off in stocks fueled by further speculation that China will hike interest rates to fight inflation and renewed worries over the wobbly finances of Ireland, Portugal and Greece.
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