Gary Thayer
Gary Thayer
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It suggests the drag on the economy from the trade deficit in the third quarter will not be as great and could help revise up third-quarter GDP a bit,
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The Fed will overlook the strength in the economy before Katrina and focus more on getting the economy back on its feet and probably will hold policy steady until we see how the economy is actually dealing with the shock of lost jobs and high gasoline prices resulting from Katrina.
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Claims are still suggesting that the economy started the year with a strong employment situation.
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The Fed may be looking at oil prices as a reason for the economy to falter and not a reason for it to overheat, so they won't want to raise rates yet,
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I think the headline number is a bit misleading. It doesn't suggest that the economy is in trouble. Consumer durables production is looking solid, so it's looking like there's still going to be strong first quarter GDP growth.
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The lower-than-expected number of new jobless claims shows that the labor market is continuing to improve. It suggests that the economy is strong and that companies are feeling more comfortable about hanging on to workers.
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The jobless claims drop shows good strength in the labor market at the end of the year. It shows that the economy has recovered after the hurricanes and is heading into the new year with good momentum and good job prospects.
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It's not a big drop. It's reflecting the fact that the economy has improved this year, but not enough that consumers are convinced things are sufficiently better.
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But it looks like Mr. Greenspan is saying the slowdown in the economy will be short-lived and that suggests that the Fed will probably continue to raise rates.
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They're very good numbers. It's telling us the manufacturing sector of the economy is clearly in recovery. It looks like we had not only a strong March but an even better February than the government previously estimated.
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If unemployment continues to decline and the economy grows at an above-average pace ... I think they (the Fed) will be a little more concerned about bottlenecks.
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The Fed will probably not put a lot of emphasis on this data and instead will be looking more at the economy after the hurricane.
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It looks like the economy is stabilizing after the hurricane-related stresses and we're heading into the holidays with an upturn in confidence that is encouraging and bodes well for the good consumer spending over the next month or so.
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It still shows a pretty healthy economy at this point. The manufacturing side of things and business spending will be good this year.