From the brainiacs at Action Economics:
Today's U.S. economic reports provide a solid round of upside surprises, with 1) a robust June orders figure for durables ex-transportation that defied ongoing recession fears, 2) upward revisions to the new home sales data through Q2 that took the edge off the steep sales down-trend and raised hope of a potential bottoming in the sector, and 3) a sizable upward revision in the July Michigan sentiment figures that generally leaves what may be a June bottom in place for most measures of consumer confidence.
Me: While some folks may see America as beaten-down and rancid Gotham City, I see it as Metropolis, the City of Tomorrow. And right now the economic numbers continue to say "no recession."
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Yehoshua Kahan 7:56PM July 26, 2008