Real Economy, no. 36

The end of 2012 brought a mix of worrisome and optimistic news regarding the macroeconomic conditions. On the bright side, the economic downturn ended. On the dark one, the growth prospects are quite bleak. In December 2012 the moving average for the last 4 months of the Economic Leading Indicator (ELI), remained at the previous month level, suggesting a forthcoming economic stabilization.