#235. A little good news…
Posted on | The AgurbanA little good news…
Are we starting to turn the corner? Over the past couple of weeks, we have been seeing signs, albeit small, of economic recovery.
The first positive sign is a rise in factory orders. According to Bloomberg News, “Orders placed at American factories in May rose for the third time in four months, as demand for aircraft, computers and machinery increased.” Gains of 1.2 percent were reported, the most since June 2008.
In addition, U.S. consumer confidence rose in June to the highest level since February 2008. From a low point of 55.3, hit in November 2008, the sentiment index now stands at 70.8, a gain of 15.5 points. Consumer spending, another market indicator, also rose in June, up 0.3 percent
Yes, there are still plenty of negatives, but, in time, the positives will outweigh the negatives. As I have said in the past, I believe we will be in full recovery mode by the fourth quarter of 2009. Stay positive! And stay tuned!