There may be a light at the end of the tunnel that isn't another oncoming train.
Consumer confidence index rose from 40.8 for April to to 54.9 for May
ISM (Institute for Supply Management) New Orders Index is over 50 for the first time in 17 months at 51.5 for may (April was 47.2). Their Order Backlog was at 48.0 (40.5 April) and Exports Index was also 48.0 (44.0 April)
The PMI (Purchasing Managers Index) was at 42.8 "A PMI in excess of 41.2, over a period of time, generally indicates an expansion of the overall economy". This the the 6th month in a row that it's increased.
Unemployment is still a staggering 8.9%, or about 4.5 million people, but there are over 3 million posted jobs online. Unemployment will definitely get worse before it gets better, but there was also a 23% increase in job postings for May
Existing home sales are up 6.7% for April and non-residential construction showed an increase of 2% over last year for March.
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment