Like most promises made before an election, the promise of an economic recovery is beginning to look like a false promise.
Last fall, the housing market was showing signs of recovery and the unemployment rate was dropping. The stock market since then has been propelled upward by the artificial stimulus of quantitative easing.
Now, though, economic indicators are less promising. The Conference Board reported today that, after three months of gains, its index of leading indicators dipped 0.1% to 94.7 in March.