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

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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