"Manufacturing gauge falls less than expected; June activity lifts hopes that end of recession is near" by Martin Crutsinger, Associated Press | July 2, 2009
WASHINGTON - Brighter news on manufacturing is offering more hope that the longest recession since World War II is near an end. But with construction and many other segments of the economy still weak and unemployment rising, any rebound is likely to be slow....
Related: Economic Reality Check
Manufacturing sectors overseas also signaled a bit of a rebound, though other US economic news was more mixed.... Outside of manufacturing, construction spending fell in May for the seventh time in the past eight months. Spending dropped more than expected as strength in nonresidential building was eclipsed by a decline in housing construction and weakness in government projects.
But in a hint of better days to come.... After a period last winter when the economic news was unrelentingly bad, many analysts said the mixed nature of the new reports showed an economy starting to turn the corner. But they cautioned against expecting anything but a weak recovery.
The recession began in December 2007 and intensified last fall after the most severe financial crisis since the 1930s....
Then HOW COME YOU didn't tell us until OCTOBER 2008, MSM?!!
And now we get IT'S REBOUNDING TALK.... but, still, if, could be, may be, however, etc, etc, etc.
But economists were heartened by the upward trend in recent months....
--more--"
And if they shovel enough bullshit, maybe will will start to eat it, 'eh?
DETROIT - After a yearlong free fall in the American car market, the decline of sales slowed in June, offering hope to automakers that the bottom has been reached and more shoppers may slowly start returning to showrooms soon. Still, sales slid 7.1 percent from May, which generally is a stronger sales month....
I'm done with these double-talking liars!
--more--"
Now the BAD NEWS!
"Mortgage requests fall most since Feb." by Sharon L. Lynch and Kathleen M. Howley, Bloomberg News | July 2, 2009
Mortgage applications fell last week by the most since February, defying efforts by President Obama’s administration to revive the housing market.
Unemployment, which touched a 26-year high in May, and rising borrowing costs discouraged homeowners from refinancing, while a growing number of foreclosures sidelined potential buyers waiting for house prices to stop tumbling.
Rising foreclosures are flooding the market and depressing home values....
But we are on the rebound!
Excuse me while I go pray to the porcelain God.
