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Weak data on home sales and factory activity on Thursday showed the economy stuck in a slow-growth gear.
Weak data from major economies in recent weeks have diminished confidence in a strong rebound from last year's recession.
Weak data for the housing and job markets suggests loan growth will not pick up anytime soon.
The bond market rallied on the weak data.
However, the fluorescent signals were relatively weak (data not shown).
More weak data from the eurozone will make investors nervy.
There was also weak data on industrial production.
Years later, Portenoy admitted his sweeping conclusions were based on "weak, weak, weak data".
A downgrade might also have implications for Europe, which has recently released weak data on economic growth.
The weak data has weighed on investor sentiment, with markets down on both sides of the Atlantic.
With the weak data that have been coming out, however, worries about the market have been growing.
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CEO of Professional Science Editing for Scientists @ prosciediting.com