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ACC's Economic Outlook for the Week Ended July 24, 2009

10:55 AM MDT | July 27, 2009 | American Chemistry Council

This was an especially slow week for economic reports, but the two that came out contained some positive news. That the LEI rose three months in a row is a fairly good signal that the end of the recession is near. And the stronger-than-expected (and third consecutive) rise in existing home sales provides additional evidence that the housing market is stabilizing if not slowly recovering after a deep, three-year downturn. Should house prices reach a bottom (and there is evidence this may occur) then the conditions for a business cycle recovery would all be in...

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