Recovery Indicators Rebound; Q1-2014 GDP Below 1% but Corrects for Business Inventory Misjudgments
By Dr. Joe Webb
Published: May 8, 2014
The recovery indicators rebounded since last month. New orders for manufacturers remained at the same level that indicates growth. The new orders for non-manufacturers was up strongly. There was a very small rise in proprietors’ income, our indicator for small business. The NASDAQ index took a hard turn since the prior report. Five of the six indicators were flat or up, which is a sign of the economy firming after a very bad GDP report for the Q1-2014. That GDP report was +0.9%, and followed a Q4-2013 report of +2.4% and a Q3-2013 report of +4.1%.