Michael Englund
Michael Englund
businesses equipment expecting investment optimistic plans seem software solid year
We're expecting a solid year for equipment and software spending. Businesses seem to have very optimistic plans for investment in 2006.
economy economy-and-economics energy falling gas growth oil price prices proving rate resilient savings spending though
In general, the economy is proving to be resilient to energy and gas price pressure. It's on a growth path. Even though oil prices are higher, the fundamentals of the economy are strong. Therefore, we see consumers' savings rate falling and spending up.
capacity delicate grenade hand hurricane shortage throws
Going into the hurricane we had a shortage of refining capacity anyway. This just throws a hand grenade into the already delicate balance.
september surprised weakness
I wouldn't be surprised to see more weakness in the September report.
economic firm growth labor market remains solid
The labor market remains solid and economic growth will remain firm into the new year.
economic estimate fluid growth information lowering situation
The story is all about oil. This is still a fluid situation but we have enough information to feel comfortable lowering our economic growth estimate even further.
confidence few hit impact increase sentiment weeks
It's the impact from Katrina, which in the first few weeks will be at a maximum, and it does increase our confidence that we will see a hit to the other sentiment indexes in September.
bets bit concerned continue inflation might notion strong supports
Overall, they were a bit concerned about inflation and see strong growth, which supports the notion that they will continue to tighten policy. But after Katrina, all bets on how much they might tighten are off the table,
continue five remarkable six spending
There has been a remarkable surge in spending and it will probably continue for another five or six months.