May construction spending down 0.6%; recovery still on hold

Early reports for June strongly suggest that the spring stall in the economy is ending. Better results have been reported late in the month for jobs, inflation, consumer spending, equity prices and factory production. Gasoline prices have retreated about $0.40/gal. and resolution of the Greek debt crisis passed an important hurdle when the European Central Bank agreed to make another installment on the loan to Greece. Caution: economic conditions have improved from briefly neutral (possibly

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