Some see the widespread weakness outside transportation as discouraging. But orders are still running far above average given the last few months of increases.

The job market is firm, the outlook for hiring remains firm and hourly wages will pick up. Wages will grow enough to keep consumer spending up.

Housing has peaked, and from here it's only downhill. It's going to take some of the wind out of the sails of consumer spending, but it won't choke off consumption.

So far there hasn't been any widespread outbreak.

Obviously it's above average, or even superior.

Summer prices may be a bit discouraging this year having averaged above $50 for the past two years.