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Expect a small rise in H2 sales, but the weakening labor market will constrain activity.
The PMI is probably a poor guide to the national picture.
Confidence improves, but the fundamentals are still shaky.
The single-family construction boom seems to be fading.
Real consumption likely grew at a near-2% rate in Q2, down from 2023’s rapid pace.
Depressed again by the shift to web-based data collection.
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