Thursday, May 18, 2006

Hmmmm...Signs are Not So Hot

From today's Dismal Scientist:

The Conference Board Leading Indicators for April rang in below consensus expectations, falling 0.1%. The results for March and February were revised higher, leaving a larger hurdle for growth in April. Three of the ten components that make up the leading index made positive contributions in the latest month.

Combine that with the PPI (Producer Price Index) showing a 7/10ths% gain last month (8.4% annual inflation rate) and the gold price, and you have an interesting USD valuation problem.


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