We’re more than halfway through the year, and many intrepid economists are talking about how all signals point to a U.S. economy on the mend: housing starts and prices are up, as are durable-goods orders (up 42 percent in June), and the gross domestic product (GDP) is ticking slightly ahead of where early predictions had it (up 1.7 percent in the second quarter). Other economy watchers—from trade groups such as the American Boiler Manufacturers Association (ABMA) to newspapers ...

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