Recovery Watch

1. The underwear indicator is rising.  (ht/Mike LaFaive)

2. Heavy Truck Orders Jump 20 Percent -- Production backlog hits level not seen since December 2006.

 

3. Today's WSJ -- "Global demand is revving up profits at big U.S. manufacturers, and investors are jumping on for the ride, shrugging off high oil prices and concerns about Japan. Manufacturing output, which has bounced back much faster than consumer demand over the past year, grew more than four times as fast in the first quarter as the estimated rate for the overall U.S. economy. A series of surprisingly strong earnings reports this week have underscored that momentum." 

MP: Manufacturing continues to be the "shining star" of the U.S. economic recovery.