Weekly Economic Calendar, from Action Economics, Businessweek
Last week, US Leading indicator has increased 1% in April, following a 0.2% decline in March. This is certainly a good sign. Economist at The Conference Board suggests that the leading indicators shows that the recession will continue in the near term, the declines will be less intense. The question is how long before declines in activity give way to small increases. If the indicators continue on the current track, that point might be reached in the second half of the year.
Housing report will dominate in this week activity. Housing activity has show clear signs of stabilizing. As I had stated previously, housing price and activity will determine how fast US economy can recover from contraction. The most badly hit states, like Nevada, Arizona, California and Florida have shown sign of encouraging sales. The existing home inventory has to go down before any significant pick up of new home construction activity.
Like what Warren Buffett say, house is mean for home stay and not mean for speculation!
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