Wall Street is having a rocky start to the new week. The markets are digesting a lot of economic news right now, from unemployment numbers to manufacturing.
Julia Coronado, chief economist for North America at BNP Paribas, says that the mixed signals from all of the last week’s data make it difficult to tell whether the economy is really on the mend. “This morning, we’re going to get the service sector, and we’re looking to see whether that confirms that we’re getting the much anticipated second-half, or whether it’s more worrisome.
In all, Coronado says the economy seems to be in a holding pattern. “We’re basically where we’ve been — moderate growth, decent job creation, but not the best jobs. But we’re still looking for better days ahead.”
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