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Reinhart Inflection Point Sees U.S. Ditching Torpor: Economy

Listening to factory purchasing managers and homebuilders, it’s easy to see why Vincent Reinhart believes the U.S. economy is on the verge of taking off even as the federal government shuts down.

A pickup among leading indicators such as the Institute for Supply Management’s factory index and homebuilder confidence is evidence that the expansion will accelerate, according to Reinhart, the New York-based chief U.S. economist at Morgan Stanley. The manufacturing gauge climbed last month to its highest level in more than two years, while builder sentiment held at an almost eight-year high.