Evidence of a bottoming in the US economy continues to accumulate. From Bloomberg:
Durable-goods orders hovered near a 13-year low and the number of Americans collecting unemployment insurance reached a 17th straight record, offering no sign of an imminent rebound from the worst U.S. recession in half a century.
Orders rose 1.9 percent in April after a 2.1 percent drop in March that was more than twice as large as previously estimated, the Commerce Department said in Washington. Meanwhile, the Labor Department said 6.79 million people are collecting jobless benefits...
Sales of new houses increased 0.3 percent in April to an annual pace of 352,000, Commerce also reported...
The data from Europe are also getting better. From Bloomberg:
An index of executive and consumer sentiment in the 16 nations that use the euro increased to 69.3 from 67.2 in April, the European Commission in Brussels said today. The May reading was the highest since November and was above the median estimate of 69 in a Bloomberg survey of 26 economists. Consumers’ price expectations, which turned negative for the first time on record last month, fell to the lowest since at least 1990.
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