Current Data Trumps Recent Positive Indications of Recovery
Sep 01, 2010
Current Data Trumps Recent Positive Indications of Recovery – Planet Yelnick.
The hunger for confirmation of a continued recovery led to a positive spin on the dismal GDP revision: that it beat even worse expectations. This week brings a ton of data, some of it current and some of it lagging. The few positive reports are getting touted even when a modicum of reflection would repudiate the confirmation of recovery. With this in mind, let’s survey some recent news bits.
Housing: The Case-Shiller housing report was positive – but it reflects data back in June when we still had a homebuyers credit. We already know from more recent data that housing fell off a cliff in July when the credit ended.
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