ACC's Economic Outlook for the Week Ended July 17, 2009

The economic reports were again mixed this week. Positive signs were found in retail sales and the continued reduction in inventories, which will provide the foundation for recovering production. Industrial production fell again but the pace of decline moderated. The two regional surveys were mixed in terms of their direction and continue to point to contracting activity but the pace of decline is very much moderated from several months ago. Housing improved again and although two months do not fully make a trend, it appears that the long decline in housing...

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