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June 15, 2011

UNEXPECTEDLY! “Confidence among U.S. homebuilders slumped in June to the lowest level in nine months as executives turned more pessimistic on the outlook for sales, a sign that any pickup will take time to develop. The National Association of Home Builders/Wells Fargo sentiment index unexpectedly fell to 13 from 16 in May, the biggest drop in a year, data from the Washington-based group showed today.”

UPDATE: Related: Inflation rises to highest level in 3 years, key manufacturing index goes negative. Stagflation? Yes we can!

Also: Report: More small businesses plan to reduce jobs.

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