obviously you have trouble with numbers.
2 of the "completed" cycles went to nearly 4% overall cycle cuts.
Your own graph shows we are just into the cutting cycle - more to come 2013.
There are 3 points to observe
1. Delayed reaction due to big ticket purchase
2. Uptick in your last chart
3. Building related stocks moving strongly last 2 months
and if you understand the markets, stocks are a leading indicator.
Lets see what it looks like mid 2013.
Much too early for your headline "claim"
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Ron Miller, Non-Executive Director
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