It really has been an interesting week of economic news:
- Real GDP growth has been better than expected (good).
- Real personal disposable income grew at highest rate in months in April (good).
- Consumer confidence dropped for a fourth-straight month to 59.8, the lowest since 1980 (bad).
- Unemployment’s only running at 5% while interest rates are quite low (good).
- One-year inflation expectations grew to 5.2% (bad).
- Falling housing prices continue to be a significant source of down-side risk to the economy (bad).
- The EIA is forecasting gas prices below $3.50 by the end of this year, and below $3.00 by the end of next year (good).
Speak when others are quiet and even a whisper can be heard. Imagine if you shout.