There's no let up in the US as analysts and investors hold their breath  awaiting a flurry  of economic reports and data next week that looks set to be anything but promising. Friday saw the release of data confirming that consumer spending has slowed to a halt and consumer confidence in February was down to a 16 year low.  Next week all important payroll data will be out and  a full line up of officials from the Fed will join  Ben Bernanke to speak on the economy and monetary issues . There are likely to be very few jokes and even fewer acknowledgements of the open secret that the US is hurtling into recession , a sea of despair Bernanke is still trying to hold back in King canute style with magic wand-like interest rate cuts.

The problem is , the financial high water is now up to his neck.


The weak figures and fear of further credit losses will fuel more selling , more write downs from the banks , more institutions bailing or expecting to be bailed out and growing concern  that this sad tide of woe is going to hit the massive US services sector like a psunami.

Here's some other data worth watching.

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