State Street Investor Confidence Index - August 2008

Global Index: 77.2
Monthly Change: Down 6.8
Year-to-year Change: Down 22.4

Producer Price Index - July 2008

Finished Goods Index: Up 1.2%
Finished Goods Core: Up 0.7%
Finished Goods Annual Change: Up 9.8%

Housing Starts - July 2008

Housing Starts: 965,000
Monthly Change: Down 11%
Year-to-year Change: Down 29.6%
1-Family Monthly Change: Down 2.9%

Housing starts drop, builder confidence stable

Builder confidence was stable in August after new housing starts fell
substantially in July. The National Association of Homebuilder’s
Housing Market Index stabilized at a reading of 16, a multi-year low,
with sales expectations improving. The Commerce Department reported an
11% drop in housing starts in July (following the large June increase);
again the fluctuation was mostly in multifamily starts as single family
housing starts fell, but only 2.9%.

German Leading Index Plummets

The euro is starting to show the pressure, but these numbers are
actually quite a bit worse than the corresponding US stats 6 months to
a year ago, indicating that the euro may have a bit further to fall.

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Housing's Chill Hits Apartments

The specter of job losses is beginning to
take a toll on apartment buildings as would-be renters are doubling up
in apartments or moving in with friends and families.

Producer Prices Rose 1.2% in July

Producer prices surged last month to their highest annual rate in 27 years,
showing inflation is still running high even as the U.S. economy slows.
Most Fed officials are betting inflation will moderate in coming
months, but some policy makers remain uneasy about price increases
spreading through the economy.

Bank of Japan Says Economic Growth Is Sluggish for First Time Since 1998

The Bank of Japan cut its economic
assessment, saying growth in the world's second-largest economy
is ``sluggish'' for the first time in 10 years.

Fannie, Freddie Bailout May Hinge on Cost to Rollover $223 Billion of Debt

Fannie Mae and Freddie Mac's success
in repaying $223 billion of bonds due by the end of the quarter
may determine whether they can avoid a federal bailout.

Wall Street Turbulence [Video]

Aug 19 - Weak economic reports and worries about Lehman Brothers sink stocks

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