Whether this is sustainable (or real) or not is another question but for now, I'll take it. Longer term stability looks like a major area of concern. Reuters:
U.S. economic data offered more evidence on Friday that the recession's worst phase may be over, with April consumer prices unchanged and industrial output declining at a slower pace than in March.Clearly the federal intervention is juicing the economy and has pumped up the 2009 run on Wall Street but that too may be running out of steam. It's possible to delay paying the price of the Wall failure - especially when Treasury gives them a free ride at the expense of everyone else - but as Roubini and others are saying, it does not help the long term prospects or real growth. Choppy waters ahead.
Signs that the 17-month-old recession may be nearing an end helped push consumer confidence in May to its highest since the collapse of investment bank Lehman Brothers last September.
Further dissipating the gloom, the contraction in New York state factory activity eased this month.
