Mark Vitner
Mark Vitner
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It will take longer for Louisiana and Mississippi to recover from the storm than Florida last year, ... Resource- and agriculture-reliant areas just don't do as well.
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The two-steps-forward, one-step-back sequence is not at all uncommon for the Consumer Confidence Index during the early stages of an economic recovery.
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The upward revision results from the slightly lower than previously estimated trade deficit. We've already seen in July data that trade deficit has worsened in the third quarter.
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They are trying to transform their economy. Georgia is trying to improve its economy.
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You could even interpret the minutes to read that economic growth has already slowed to its long-run potential and that the federal funds rate is already at a neutral level. The Fed's commentary describes an economy that is nearing or already in the early stages of a soft landing.
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The unemployment rate is likely to hang around 4.5 percent and finish the year somewhere near 4 percent. That would mean that North Carolina would be back in the familiar position of having an unemployment rate below that of the nation.
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The trucking industry is very competitive, so driving up the costs of hiring drivers has not really translated that much to price pressure for finished goods.
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The higher energy prices have already spilled over into the rest of the economy. But it probably will not cause major problems for the economy.
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The improvement in the unemployment rate has been very steady, which looks very believable. It points to a probable undercount in (payroll) employment.
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The major story in these places is very rapid population growth, with retirees, seasonal residents and tourists coming in,
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The economy should bounce back solidly in the first quarter.
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The economy seems to be getting over the bursting of the tech bubble. It finally appears that the Triangle is firing on all cylinders.
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The economy may stagnate but it's not going to inflate. The core rate of inflation probably peaked in March.
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The leadership in the economy is going to shift from housing and consumers to businesses. There's nothing unusual about that. It's healthy.