The chart at the right provided by the Federal Reserve Bank of Philadelphia is the latest in a string of reports this week that shows a bottom in economic activity is near. See my analysis, Philly Fed Index paints brighter picture.
The Leading Index (also available at the link above) jumped for the second-straight month, while continuing jobless claims plunged.
Earlier in the week, we saw an unexpectedly steep rise in housing starts, and building permits also pointed toward a brighter future. I've said it before and I know it is a cliché. We aren't out of the woods yet, but we are approaching a clearing.
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