Eagles,
The good economic news continues to flow this morning!!
Just released are two additional reports - Philly Fed Outlook and Leading Economic Indicators
The Philly Fed Outlook release this morning shows the business activity business index rose sharply in June to a reading of -2.2. In May, this index showed a reading of -22.6. This is the highest reading on this index since September 2008.
The economist estimate for this index was for a reading of -17.
The manufacturing survey also showed the outlook for business conditions at its highest level since September 2003.
The Leading Economic Indicators (LEI) is a gauge for our economy six to nine months down the road. The LEI rose to 1.2 percent increase in May on the heals of a 1.1 percent increase for April. The May increase is the largest increase since March 2004. Economist were expecting a 0.9 percent increase.
As reported on CNBC this morning, Ken Goldstein, a Conference Board economist said "The recession is losing steam, confidence is rebuilding and financial market volatility is abating".
Please let me know what questions or comments you have.
Thanks,
Chuck
More GREAT Economic News
0 comments • Chuck Cornwell • June 18 2009 09:47AMComments
Participate
Post © 2009 RE/MAX Regency. Design © 2009 ActiveRain Corp.
Logos and service marks owned by copyright holder.