August 16, 2010
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[Skip to the end] No sign of recession here. Several May surveys are showing signs of turning around some. This was all ‘better than expected’
Twin themes remain: Weakening demand continues from Q2 2006 Price indexes continue higher as Saudis continue to hike prices and let quantity adjust Markets are
Twin themes continue: weakness and higher prices. A substantial pickup in net government spending beginning late Q2 and continued strong exports should keep GDP in