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Media Continues To Push Economic Doom, When Evidence Supports An Uneven Recovery Ratcheting Higher

Media Continues To Push Economic Doom, When Evidence Supports An Uneven Recovery Ratcheting Higher
Screenshot CNBC

U.S. Factory Orders continued their recovery after the disastrous Mar/Apr time frame, beating estimates handily. Business conditions in the state of NY also beat.

The corporate and anti-American media continued to push the economic doom narrative, constantly saying the months-old economic recovery ‘won’t last’, at least until Joe Biden is president.

The first read on home prices in June is proving just how resilient the housing market has been in the face of an ongoing economic disaster. Strong demand for housing, much of it pushed by the coronavirus pandemic itself, is driving prices higher faster, but forecasters say that may not last, reported CNBC.

Nationally, home prices increased by 4.9% annually in June, a much greater gain than the 4.1% annual  rise in May, according to CoreLogic. Prices climbed 1% month to month, which is the fastest monthly gain for June since 2013.

ISM-NY Business Conditions Index (Jul) printed at 53.5 vs 15.8 consensus estimate.

IBD/TIPP Economic Optimism (MoM) (Aug) printed at 46.8.

Factory Orders (MoM) (Jun) printed at 6.2% vs 5.0% estimate.

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