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Staggering to Recovery

2:56 PM, Apr 24, 2013 • By GEOFFREY NORMAN
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The economy can't quite seem to gets its feet under it.  As soon as it shows signs of steadying itself and begins to move forward, its legs go wobbly and we get things like this, from Lorraine Woellert at Bloomberg:

Orders for U.S. durable goods fell in March by the most in seven months as demand slumped for commercial aircraft and business investment cooled. 

The news came, typically, as a surprise as “The median forecast of 78 economists surveyed by Bloomberg called for a 3 percent decline. Orders excluding transportation equipment, which is volatile month to month, unexpectedly fell for a second month.”

But we've grown to expect the unexpected in these matters, haven't we?

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