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The Economy

March 26, 2014 | Weekly Commentary

Positive economic reports last week indicated U.S. factory output rose 8%, building permits jumped 7.7%, 29 of 30 large banks passed their stress tests, Philadelphia area showed very strong economic strength, and jobs continued to strengthen.

Some negative data was reported:  existing home sales were down in February (weather?), housing starts sunk (weather?), and National Assn of Home Builders sentiment declined (weather?).

In summary, manufacturers have built up inventories hoping consumers will spend abnormally high amounts in the spring.  We will monitor how well consumers spend and report to you in upcoming issues.

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