Here's a chart of the data:
Click for a larger image.
Note the number has increased for most of the year, rising from a reading a ~(-40) to it's current reading of 20. However, also note that on the future expectation's chart we see a decline in the future expectation's index. However, note we saw a similar pattern after the last recession when optimism jumped at the beginning of the expansion but waned throughout the recovery. This time we are seeing that decrease happen quickly which is a concern.
Also of note: the employment index showed net hiring for the first time since late 2007.
1 comment:
This is a good but mixed showing and taken together with the recent readings from New York indicates that we have recovered to a point. Given the totality of the economic condition one would assume that mixed and contrary data would be the norm. Next comes Chicago. It has trended slightly down over the past three months but there is no reason to be alarmed unless a marked deterioration appears. To be honest it looks like a post recession pre recovery intermezzo where the composer has yet to make up his mind..
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