By  on May 9, 2013

Forget the so-called summer doldrums this year.

Both consumer confidence and retail employment, particularly among general merchandise retailers including discounters and department stores, saw pick-ups last month. That, coupled with the Dow Jones Industrial Average hitting new highs, suggests that at the very least the U.S. economic backdrop isn’t getting any worse. No one believes that the economic problems in Europe have been resolved, or that there won’t be some sort of impact in the U.S. in certain geographic pockets due to the sequester.

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