Innovest's February 2009 Market Commentary
Please click here to read the February 2009 Market Commentary.
"Throughout February, investors were pummeled with dismal economic data and continued worries over the stability of the financial sector. Gross Domestic Product contracted in the fourth quarter of 2008 at an annualized rate of 6.2%, the steepest decline in 27 years. This severe pullback was largely a factor of reduced consumer spending, as consumers and financial institutions repair their balance sheets. Furthermore, companies cut inventories and exports dropped, given weak global demand and the strengthening of the dollar. In addition, unemployment numbers for February reflected the severity of the recession. Unemployment rose to a 25-year high of 8.1%, as companies..."