Recovery watch In a business cycle update, the grinding slog of a recovery continues. Last week, we learned that the job market looked got a little less bad in February than it was getting for most of 2009. On Friday, we learned that the retail sector had a not-bad February. Broad composite measures of the state of the U.S. economy, like the Conference Board’s Coincident Index and the Chicago Fed’s National Activity Index (CFNAI), are basically getting back to the zero line after deep collapses. Most measures, however, are behaving rather weakly… Read More