Reuters - They sure don't look like recession numbers to me. One month of any indicator doesn't make a trend, so I'm keeping my eye on the 4-week moving average, but it would seem to me this is starting to ebb a little, so that's good. Jobless claims are a leading indicator, not a backward indicator and one of the highest frequency indicators we get, they captured the slowdown. The 4-week moving average is still consistent with a slowdown, but the idea this is a second Great Depression or Japan circa-1995 is just utter hysteria and the numbers I think prove that.
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