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Let It Snow. Let It Snow . . .

12/24/2017

During the past week alone, we have learned:

1.  New home sales are surging, up 17.5% in November.
2.  Consumer Sentiment was the highest in 2017 since the year 2000.
3.  Personal Income is rising nicely, up 0.3% in November alone.
4.  Inflation is quiet.  The PCE deflator is up on 1.8% year-over-year.
5.  Core inflation is up even less, only 1.5% year-over-year.
6.  Consumer spending rose twice as much as expected in November.
7.  Shipment of non-defense capital goods (less aircraft) has risen for ten straight months.
8.  The current account deficit with other nations dropped 24% between Q2 and Q3.
9.  The Index of Leading Economic Indicators has risen 15 straight months.

You have to look hard to find negative economic news.  While there is always a recession ahead of us, it is very far ahead of us indeed.  There are very few signs on the horizon.

I don’t recall a period when good economic news was so abundant.
Like snow, good news falls quietly. 
Happy Economic Holidays, America!

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