Rosenberg Daily - Economy Improving?

   This is all we hear from the economic intelligentsia on bubblevision.
   Yet, housing starts slide 5.8%. The NAHB and the NY Fed empire manufacturing
index faltered badly in April. All told. 70% of the economic data in the past
month have come in below expected.
   And then came along industrial production. Another goose egg — the second in a
row. Final goods output was down 0.2%, durable goods consumer production
was off 0.5%. construction supplies off 1.3% and manufacturing down 0.2%.
Capacity utilization rates eased to 78.6% from 78.7%. which is distinctively
disinflationary.