> Inflation up, wages stagnant, housing starts down--I'm no economist,
> but the economy looks pretty gruesome to me right now. Doug et al., any
> indicators that point in a happier direction?
I don't think its a "happy" data point but monthly housing starts is based on a survey with a pretty large variance. I would wait a few months before I would make any big predictions based on ANY monthly data let alone a relatively small monthly survey.
BTW, the housing starts were even lower last November and it did not indicate a trend then. But who knows maybe this time will be different?
Jim
"well you've played the performing monkey much too long and you know the organ-grinder's tunes are wrong you pretend to have some kinda control but you'll be out on the street before too long"
--(the late) Frank Tovey, *Liberty Tree*