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S&P Credit Research2899 word report
published Jul 10, 2009
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S&P Credit Research
| Abstract: | Although the sky might be getting a little brighter, there is still no real break in the rain that keeps falling on the economy. The June employment report was somewhat disappointing, and other data remain mixed at best. We still believe the economy is on track to hit bottom in the fall, but it isn't there yet. The recovery promises to be a very soft one. Second-quarter economic data are coming in a bit better than expected. We now expect real GDP to drop only 2.2% rather than the 2.8% we estimated last month. However, because some of the improvement comes from higher inventories, we have revised our projection of second-half growth downward. We've also revised our estimate of the
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| Brief Excerpt: | RESEARCH Ratings Definitions Economic Research: U.S. Economic Forecast: WhoaÇÖll Stop The Rain? Publication date: 10-Jul-2009 Credit Market Services: David Wyss, Chief Economist, New York (1) 212-438-4952; david_wyss@standardandpoors.com...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
