After significant bouncebacks in the major indicators over the past couple of months, we saw a bit of a pullback in several components of the data in October. With signs of slowing job growth and a drop in consumer confidence, the positive changes in trend we hoped for last month may have been put on hold. One caveat for this month’s data, though: the weakness may have more to do with the turmoil around the U.S. election than with the economy itself.

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