The Census Bureau is out with its Full Report on Manufacturers' Shipments, Inventories and Orders for July.
Despite sequential growth, new orders over all manufacturing industries were down 23% year on year (see Table 5). This data point was omitted from the Summary. And of course if the recent depression were a typical post-WW II recession, the recession would have already been ending around then.
Just in case you were feeling too ebullient from enjoying the green shoots.
Copyright (C) Long Lake LLC 2009