Positive signs for US economy - Papers Monday 16 July

Leading the FT this morning is a report stating the US economy is likely to improve over the rest of this year, although risks of a sharp slowdown in consumption, volatile energy prices and a deteriorating international environment still cloud the outlook, says a voting member of the Federal Open Market Committee. In an interview with the FT, Michael Moskow, president of the Federal Reserve Bank of Chicago suggested inflation was "contained" and personal income looked "pretty good" but most reports in his Chicago region indicated manufacturing was "bumping along the bottom". Aro...