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Good Numbers

April 14, 2010 – 9:03 am

Retail sales numbers for March were much higher than expected. Sales increased 1.6%. That is five monthly increase in the last six months. From March a year ago it is up 7.6%. The spending was also broad based.

Also, reported this morning was inflation news which showed no sign in core inflation. Finally, Intel and J.P. Morgan both reported significantly higher sales and earnings whereas Alcoa’s numbers were not as strong as hoped, though they did turn in a profit.

These are the highlights of the last few days. All this data supports the recovery story for our economy. But there are headwinds in the economy as jobs are still very elusive. They will continue to be hard to find. An increase in jobs is always the last thing to confirm an economic recovery. That is one reason it never feels like things are getting better when they actually are. The recovery is very weak and is likely to continue to be so, but we are in a recovery despite wide spread disbelief.

It is interesting to see the recovery is weakest in the small business sector of our economy according to a recent survey. Since they employ by far the majority of the workers in this country it is no wonder that this recovery is so weak.

Good Trading
Steve Peasley

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