Nigel Gault
Nigel Gault
bag building mixed projects work
For the construction workers, there will be probably not be so much work in new residential building, but there will be work in nonresidential building and there will also be work in reconstruction projects in the hurricane-affected areas. It's a mixed bag for construction.
episode hikes rate unusual
This is the unusual episode that we've had so many rate hikes in a row.
good greatly growth labor last reports strength suspect third underlying
Growth was very good in the third quarter. We really suspect that the last two reports greatly understated the underlying strength of the labor market.
begun economy economy-and-economics plenty
The economy has begun 2006 with plenty of momentum.
august bigger dragged fourth growth hit impact measured possible quarter september
It is possible that the hurricanes that hit in August and September had a bigger impact on measured GDP growth in the fourth quarter than in the third. ... The hurricanes probably dragged on investment, too.
scholars-and-scholarship start stop unusual
It wouldn't be unusual at all for them to stop and start again.
broader consumer housing looking question slow spending time trigger whether
For a long time we've been looking for consumer spending to slow down, ... It's a question whether this is a trigger for a broader slowdown in consumer spending and the housing market.
areas auto boost consumers cooler fall likely malls pick return spending weather
With consumers likely to return to the malls from the auto showrooms, spending in other areas will pick up again, especially once cooler weather arrives to give a boost to fall clothing,
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The goods and services deficit will continue to widen, especially since after Katrina the United States will be importing more energy products at higher prices.
deficit few widening within
Within a few months, the deficit will be widening to new records.
adding creation effects hurricane job point rather
We are now at the point where Hurricane Katrina's effects are adding to job creation rather than detracting from it.
above concern few month next push risk sometime
There is a risk that we will push up above 2 percent, not necessarily over the next month but sometime over the next few months. That will be a concern to the Fed.