April’s data continued to be solid overall. Job growth recovered and March’s weak report was revised upward significantly, easing one concern. Consumer confidence also bounced back a bit. More worrying is that business confidence moved further off the high, although this would be a change in trend rather than an immediate concern. Fed policy continues to be stimulative, which is helpful, despite the recent rate increase. Overall, the economic data indicates that growth continues, although it may have peaked.
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