Recent economic reports indicate the U.S.
economy continues to show improvement. 
Retail sales were stronger than expected.  Gasoline, as well as other energy costs, continued
to decline which will put more money in consumers’ pockets coming into the all
important Holiday season.  The US
manufacturing sector continues to strengthen as indicated by the Purchasing
Manager Index jumping to a healthy reading of 54.2 versus an expected 52.4

On the negative side, mortgage interest
rates jumped to a 2 month high, existing home sales slid 3.2% from the previous
month, and refinancing applications declined 6.5%.