Manufacturers extraordinarily upbeat
The Economic Tendency Indicator climbed from 108.8 in March to 112.8 in April, a level that points to much stronger economic growth than normal. The increase was due mainly to the manufacturing indicator, which jumped 11.3 points to its highest since 1996. Above all, manufacturers are unusually happy with their order books.The consumer confidence indicator also rose somewhat in April, due to consumers being more positive about the current state of both their personal finances and the economy as a whole. Firms report a rise in employee numbers in recent months, but labour shortages have