The Economy - Still Hobbling Along

Recent economic data have been mixed, consistent with a slower growth rate in the near term. The economy faced a number of headwinds in the first half of the year. Some of the headwinds are likely to be temporary; others such as housing and home prices may remain for some time.

The economy is expected to improve in the second half of this year. Japan is recovering from its recent disaster, the “Greek Can” has been kicked down the road again and gasoline prices have declined from their May highs.

Even with the expected economic improvement, numerous and significant risks remain. Political rhetoric and congressional inaction are not helping.

We continue to invest accordingly, managing risk over return.

Your questions and comments are always welcome.

Sincerely,

Larry Cavalena
Registered Principal

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Opinions expressed here are Larry Cavalena’s not necessarily those of Raymond James Financial Services or any of Raymond James affiliates. Expressions of opinion are as of this date and are subject to change without notice.

Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.

The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

Some content prepared by Raymond James.