An absolutely boring report from the Census Bureau, with every indication showing exactly what we have seen since early 2012. Again, the appearance of muddle or stasis is proving irresistible, but still not any demonstrable improvement or monetary breakthrough in the consumer segment.
The slowing trend continues at levels consistent with economic contraction, not growth.
The last two months’ “bounce” is really just normal volatility after a particularly bad start to 2013.
Altogether, the first five months of 2013 clearly do not correspond with what would rationally be considered “improvements” in economic health.
The first five months of 2013 are on par with 2008, 2007, 2001, 1992, 1991 and 1982. That is not exactly a roll call of robust years.
There really isn’t much to add, again just more of the same.
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