And for a contrarian take on the US economy, check out this slide from Morgan Stanley, which basically argues that aside from autos, it’s actually hard to be impressed with any aspect of the US economy right now.
That’s a rather different spin than what you get from many other analysts and pundits, who blithely talk about the “improving” US economy, without then further backing that up.
See our comment below…
Photo: Morgan Stanley
While all of the above is fair, we think it’s a little narrow. Initial claims continue to improve. Retail sales (despite high gas prices) continue to be strong. Most housing metrics are clearly better than they were the year before. The bright spots aren’t entirely constrained to auto sales, as the chart above implies.
Business Insider Emails & Alerts
Site highlights each day to your inbox.