Regional Specialists Review November 2011
Overview: Although it's too early to take a victory lap, talk of a double-dip recession has faded. So, too, have the usual pundits of doom, whose messages have lost their traction and marketing value.
As we array the numerous U.S. economic indicators on a spectrum of negative on the left to positive on the right, the center of gravity is clearly right-of-center, suggesting moderate growth. More importantly, many key causal factors (interest rates, the U.S. dollar and commodity prices) are favoring growth. Even politics in Europe and possibly in the U.S. could be described as supportive, if awkwardly so. But several hurdles still exist, and volatility is likely to remain with us.