Last week’s economic data confirmed that:

  • The U.S. export sector continued to be one of the bright spots for the U.S. economy as Q2 2008 ended.
  • The U.S. consumer endured a terrible July – despite the impact of the rebate checks.
  • Consumer price inflation in July remained uncomfortably high.
  • Jobless claims are still being distorted by the new extended benefits program.

There are only a handful of economic releases due out this week, and of those, only one or two will garner any attention from financial market participants – the July housing starts data, the August National Association of Homebuilder Index, and the July Producer Price Index data

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