NJ5 on 11 July 2009
In the past few months there has been a lot of focus from the mainstream media on the "green shoots", which are essentially a bunch of indicators which remotely point at a recovery when not interpreted in context.
A lot of the bad information gets little attention or is outright ignored.
One of the indicators is consumer confidence, which gets a lot affected by the media's reporting of economic news. So there has been a self-reinforcing loop of good indicators in the past few months, but all of that can get reversed with a single month of contrary data. June's unemployment numbers were already bigger than expected by the "green shoots" crowd, and expectations are going down again.
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