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Weekly Preview: Decisive Data?
Indicator/Event Wrapup: The picture of a moderate housing-and manufacturing-led growth acceleration–almost a “normal” recovery pattern–was called into question by severe March retail sales and payroll employment slowdowns. But, the weakness came at the tail end of a quarter of solid hours-worked and real-spending growth–so there is a good chance that the downshift represents a pause, rather than a serious stall. Arriving data–particularly numbers not heavily driven by the employment figures–are being watched to decide the issue.