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Despite the government's massive stimulus efforts and the current rally in the financial markets, "formidable" challenges remain for the U.S. economy and "the market backdrop remains highly volatile and uncertain," says Max Bublitz, chief strategist and portfolio manager at SCM Advisors LLC, an affiliated investment manager of Virtus Investment Partners (Nasdaq: VRTS).

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased slightly last week to 5.26 percent, down from 5.29 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Meanwhile, rates for 15-year fixed mortgages fell to 4.62 percent from 4.66 percent, and 5-1 adjustable rate mortgages also fell to 4.21 percent, down from 4.23 the week prior.

In June 2009, compared with May 2009, the volume of retail trade fell by 0.2% in the euro area (EA16), but increased by 0.1% in the EU27. In May retail trade declined by 0.5% and by 0.6% respectively.

Spending by all U.S. nonfarm businesses on new and used structures and equipment increased 17 percent, or nearly $201 billion, to a total of $1.362 trillion in 2007. This compares with an earlier cyclical peak of $1.161 trillion in 2000, according to a report today from the U.S. Census Bureau.

As U.S. stimulus spending shines a spotlight on the country's inadequate infrastructure, private sector infrastructure providers say that government effectiveness and economic conditions are the primary challenges to providing needed infrastructure, according to the second infrastructure survey by KPMG International, the global network of audit, tax and advisory firms.

Beyond.com, Inc., the world’s largest network of niche career communities, today released its Second Quarter 2009 Career Trend Analysis and Industry Outlook Reports, which provide a unique insight into the overall employment market by leveraging Beyond.com’s network of top-tier industry, local and specialty web sites. Among other key findings, the report revealed small businesses with fewer than 50 employees accounted for more than 50 percent of hiring in Q2 2009.

The European Commission's Digital Competitiveness report published today shows that Europe's digital sector has made strong progress since 2005: 56% of Europeans now regularly use the internet, 80% of them via a high-speed connection (compared to only one third in 2004), making Europe the world leader in broadband internet. Europe is the world's first truly mobile continent with more mobile subscribers than citizens (a take up rate of 119%). Europe can advance even further as a generation of "digitally savvy" young Europeans becomes a strong market driver for growth and innovation. Building on the potential of the digital economy is essential for Europe's sustainable recovery from the economic crisis. Today the Commission has asked the public what future strategy the EU should adopt to make the digital economy run at full speed.

In June 2009 compared with May 2009, the industrial producer price index rose by 0.3% in the euro area (EA16) and by 0.2% in the EU27. In May, prices remained stable in both zones.

The number of U.S. companies with an offshoring strategy has more than doubled from 2005 to 2008 and very few plan to relocate activities back to the United States, according to Duke Offshoring Research Network's fifth annual report on offshoring trends, published in collaboration with The Conference Board.

Online advertised vacancies inched up by 700 to 3,295,500 in July, according to The Conference Board Help-Wanted Online Data Series (HWOL)™ released today. Nationally, online job demand has been relatively flat over the last several months after sharp declines in December 2008 and January 2009. Nationally, there were over four unemployed looking for work for every online advertised vacancy, as the number of unemployed increased even as the number of advertised vacancies held steady.