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Not Great But Better

March 16, 2012 – 5:06 pm

The upbeat economic news this week kept the market on track though there appears to be some cracks appearing in the relentless move up in stock prices that began in December.

On the economic front retail sales were up 1.1% last month. Some of that was because of higher gasoline prices at the pump but extracting autos and energy it was still up .6%, a good number. Inventory rose .7%. Jobless claims fell and inflation numbers are still well contained especially the core rate that sits at .2%. The Empire and Philly Fed regions reported their numbers for March and both were solid.

Our economy is on a path of stability despite the instability in Europe. Even in that troubled area of the world economic weakness may be moderating. There are parts of the EU that are clearly healthy and other parts that are in dire distress.

The world economic picture is becoming clearer and so far it appears that though it is slower growth than almost everyone would prefer, at least it looks like it is going to be sustainable for a while. How long no one knows but 2012 should be a year of slowly strengthening growth.

Good Trading
Steve Peasley

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