Capital Goods Orders Relieve Some Nervousness about Recession

I like today’s numbers, including the upward revision of last month’s preliminary estimates:

I had been concerned that business confidence could fade.  With housing in the absolute tank, we can’t handle any other problems now without being either in recession, or close to it.  But the upturn in durable goods orders is comforting.  The risk of recession is not zero by any means, but neither is it terribly high right now.