CHANGE: Construction, Manufacturing Fall. “U.S. home construction fell unexpectedly in April, an indication that the troubled sector will remain a drag on the economic recovery.” Unexpectedly!
UPDATE: Reader Gordon Stewart emails:
How many times in a row can something happen unexpectedly before the experts start to, you know, expect it? At some point, shouldn’t they be required to state the foundation for their expectations? If they actually expect housing prices or new home construction to go up in this market, what are they basing that on?
Hope. Desperation. Something like that.