8:58 AM, Mar 27, 2014 • By GEOFFREY NORMAN
As Bloomberg is reporting:
Reports earlier this week were either promising or ominous, depending.
* Orders for long-lasting U.S. manufactured goods rebounded in February, but a surprise drop in a gauge of planned spending on capital goods pointed to sluggish economic growth this quarter. Reuters
* Purchases of new homes in the U.S. fell in February to the lowest level in five months, a sign the industry may take time to pick up after inclement weather damped demand earlier in the year. Bloomberg
* U.S. consumer confidence rose in March to its highest in more than six years as expectations brightened, according to a private sector report released on Tuesday. Reuters
The economy, it seems, will not be pinned down nor will it do the easy thing or conform to the expectations of economists.
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