Bad news from the international trade and U.S. services releases has driven the good news index below 40. The GNI now stands at 37.5.
Foreign trade deteriorated on both the export and import accounts and the net was an increase in the deficit—a bad news trifecta from this release.
The quarterly services report was pretty poor as the Census Bureau emphasized for the information sector. Information sector revenue for the first quarter of 2009 was $275.3 billion, a decrease of 0.9 percent from the fourth quarter of 2008. Although this report is on the list of principal federal economic indicators, not included in our news index because its format is too disaggregated and difficult to summarize.
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