In keeping with the green shoot theme that investors are obsessed with these days we present you these green shoots courtesy of Gluskin Sheff:
These YoY numbers, as of last week, hardly paint the picture of an imminent
• Raw steel production (-47.3%)
• Lumber production (-32.6%)
• Railway traffic (-20.1%)
• Electrical output (-12.9%)
The white collar banking economy appears to be stabilizing thanks to the Federal Reserve’s rescue mission, however, the blue collar real economy is as weak as it ever was.