David Rosenberg's Recession Indicator Flipped Positive Today

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		Home Tech Finance Markets Politics Strategy Entertainment Advertising Retail Sports Life Wednesday, February 27, 2013 David Rosenberg's Recession Indicator Flipped Positive Today In October, Gluskin Sheff economist David Rosenberg warned of a big red flag signaling a recession in the United States. The year-over-year change in the three-month moving average of nondefense capital goods orders excluding aircraft and parts (also referred to as "core capex") had turned negative. Rosenberg considers this chart the purest look at what businesses are doing with their cash. Today's durable goods report revealed a surge in core capex in January. Nondefense orders ex-aircraft and parts jumped 6.3 percent, way above economists' estimates of a flat reading. Perhaps fiscal cliff fears have been allayed for now. Now – lo and behold – Rosenberg's recession indicator has finally moved into positive territory, albeit only slightly. Is the U.S. economy out of the woods? Of course not – but at least at the moment, it looks like businesses are spending again. That seems better than the alternative. Read » Also On Money Game Today: Japanese Industrial Production Grows, But Misses Expectations JC Penney Shares Are Getting Annihilated Right Now Advertisement CHART OF THE DAY: How Gold Rallied Under The Last 4 Fed Chairmen CHART OF THE DAY: Here Are The States That'll Get Slammed By Sequestration CHART OF THE DAY: Missing A Few Good Days In The Stock Market Will Cost You Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: ipat39@gmail.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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