ACC's Economic Outlook for the Week Ended June 19, 2009

The economic reports were fairly positive this week. There was good news on the long beleaguered housing sector, but keep in mind that the strength was from very low levels and activity is still in a weakened state and off significantly from a year ago and the peak. Nonetheless, it appears as though a trough has been reached. On inflation, the reports dispel growing concerns about inflation and are suggestive of continued weakness in the pricing power of workers and businesses. Industrial production continued to decline in face of continued destocking along the...

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