Wells Fargo Weekly Economic and Financial Commentary: Oct. 19, 2012

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Searching for Truth in a World of Conflicting Data

· Walt Whitman wrote that “whatever satisfies the soul is truth.” A 21st century application of the famed poet’s observation might be that regardless of your view of the economy, you can find support for it in recent data. But in an effort to satisfy your intellectual curiosity, if not your soul, our U.S. Review section breaks down this week’s somewhat conflicting data to help you determine what really matters to the economic outlook.

· The one truth that we can be sure of is that our mantra of “slow growth, no double dip” has been the right call, and there was nothing in this week’s data that changed this outlook.