HOUSING MARKETS SHOW IMPROVEMENT!
With all the bad news abounding hourly some good news is welcomed.
Improvements in the US and British housing markets, rebounds in equity markets and falls in the cost of money market funding are among the favourable reports that suggest the economic recovery will be more rapid than expected, the Organization for Economic Cooperation and Development (OECD) said Thursday. “Given the positive economic news and based on incoming high-frequency indicators, OECD short-term forecasting models point to an earlier recovery than envisaged a few months ago,” the OECD said in its interim economic assessment made public in Paris.
For example, “bank lending continues to decline and concerns about the health of the banking system remain.”