Economic trends.

• Position: News & Numbers

Many people are paying more attention to economic trends than they did before the credit meltdown. Financing the Future News: Long-Term Financial Planning Resources, Notices, and Events--an electronic newsletter from the GFOA's Research and Consulting Center--provides its subscribers with a monthly summary of relevant statistics. Government Finance Review will reprint an excerpt of those statistics in this and subsequent issues to help GFOA members keep track of the overall economic picture. (To be added to the mailing list for Financing the Future News, e-mail Shayne Kavanagh, GFOA senior manager-research, at skavanagh@gfoa.org.)

Confidence Indicator Result Source Consumer Confidence Declined to 25 Conference (100 is considered Board a "neutral" score Economic Growth Indicator Result Source Wall Street Journal Surveyed economists forecast an Survey of Economists annualized 4.6 percent contraction of U.S. GDP in Q 12009 and 1.5 percent annualized decline for Q2. They predict growth returns in Q3 at .7 percent and Q4 at 1.9 percent. U.S. Trade Deficit $677 billion deficit U.S. Commerce for 2008 Department Durable Goods Orders Declined 5.2 U.S. Commerce percent in January Department from December Gross Domestic Revised GDP figures: U.S. Commerce Product (GDP) 6.2 percent annualized Department decline in Q4 2008, 1.1 percent growth for all of 2008. ISM Manufacturing Rose to 35.8 for Institute for Supply Index January from 35.6 Management in December What Warren "The economy will be in shambles Buffett Said throughout 2009, and, for that matter, probably well beyond." The economy "can't turn around on a dime," and we could see a return of inflation worse than what we experienced in the late 1970s. Unemployment will climb a lot...