10 Oct 2003 Not a “10”
Posted at 11:05h in The Friday BriefA perfect “10” this recovery is not. On this tenth day of the tenth month business leaders, investors, and economists remain confused by the indicators of this economic recovery. While the government reports are released like clockwork, the information they contain is not quite so predictable. Yes, the overall economic trend remains positive and new data increasingly confirm the trend’s direction, but outliers and contradictions continue to confuse expectations. Fortunately, we are at the early stages of the third quarter earnings cycle. In the coming weeks we will gain a better understanding of the health of American business and their managers’ expectations for the future.