From the Wall St Journal: So far, incoming September economic reports have been surprisingly firm. Auto sales rebounded to their highest level since April. Chain-store sales posted year-on-year growth of 5.5%. The economy added 103,000 jobs, and manufacturing sentiment improved a bit. On Friday, Commerce Department figures are expected to show a strong 0.8% monthly increase in retail and food-service sales, while consumer sentiment may show some brightening of attitudes as well.
What? If this feels like a 180-degree turn from August, that's because it basically is. It would be one thing if this were a special case, or a broad turning point in the economy. But, in fact, this kind of volatility, these jerky swings in growth, have become the norm. Consider what has happened so far this year: Real gross domestic product shrank in January and February, according to tracking firm Macroeconomic Advisers. Then it surged by more than 1% in March. It contracted again in May and June—only to jump by more than 1% again in July. This isn't typical...
Read all about it at http://online.wsj.com/article/SB10001424052970204774604576629392649087496.html?mod=WSJ_Markets_LEFTTopNews
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