Tuesday, January 22, 2008

Continued Optimism

Now, there's about as much point in me talking about interest rate cuts, fiscal stimulus, stock markets, etc, as there is in hoping that St. John's won't see any more snow this year. Many people can be found to talk about such things, and many do it better than I can. Econbrowser comes to mind.

Either way, we did have two data releases. One, retail sales were strong, even though if it was mostly consumers demonstrating the fact that, yes, gasoline is an inelastic good. However, the numbers were still decent. Two, EI recipients were down in November, by 5,800 from October.

Yes, given how quick this descent has been, November is effectively years ago. However, Statistics Canada has balm for this uncertainty - the monthly report on leading indicators comes out tomorrow.

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