Economic data in April was mixed, with first-quarter weakness lingering in some risk indicators. Overall, though, the news was positive, and most forward-looking indicators we track bounced back from decreases in March. Given the good news in the employment and service sectors, two of the indicators here, it is very likely that the weakness in the first quarter, including March, was seasonal rather than the start of a negative trend. As a result, all of our indicators remain in green-light territory.

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