Economics Update

Well, if consumers are 70% of the economy, the fact that the Thomson Reuters/University of Michigan consumer confidence index numbers fell to a nearly 1 year low.

This, along with a falling consumer price index, which indicates that a deflationary spiral may be nearer than we would like, are not good news.

Additionally, notwithstanding heroic/stupid efforts to prop up the housing bubble, home builder confidence has hit a 15 month low.

On the brighter side, Moody's survey of commercial real estate prices is rose in May, and the National Association for Business Economics' latest survey of employers is showing that employers are looking to hire more than they were a year ago, though admittedly, that is not saying much.