On Monday, we learned that the Institute of Supply Management’s closely-followed Non-Manufacturing Index reached 57.2, the highest this year.  We also learned that economists no longer predict England will go into recession, as a result of BREXIT.

On Tuesday, we learned that our trade deficit increased more than expected, reflecting the increasing strength of the dollar.  We also learned that factory orders have increased four straight months, which is most unusual.

On Wednesday, we learned that the hiring rate is slowing, presumably due to the tightening labor market.  More interesting, we learned that the number of workers who quit their jobs is decreasing, presumably because their employers are taking better care of them.  We also learned that the growth in consumer credit is slowing down.

On Thursday, we learned that small business optimism has jumped 26 points this year.

On Friday, we learned that the ECB will remain “acommodative” or keep interest rates low and the money supply increasing.  The European Union may eventually collapse but certainly not this week.

So . . . That Was The Economic Week That Was . . . a pretty good week, I’d say!