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A favorite expression I’ve always had is that economists know a lot more about this stuff than I do, but my guess is as good as theirs. I think there remains to be some uncertainty. The employment numbers give people some confidence, but there is still the Europe question, and people are going to be hesitant until the elections. The economy is improving — that is indisputable — but it still continues to be uncertain. It leaves people hesitant to make capital expenditures.

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