Steven Wood
Steven Wood
Steven Woodwas an Australian sprint canoeist and marathon canoeist who competed in the late 1980s and early 1990s. Competing in two Summer Olympics, he won a bronze medal in the K-4 1000 m event at Barcelona in 1992...
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Consumers still remain optimistic about the future despite having some concerns about the present. This is very typical of a business cycle turning point,
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The economy is in recession. The manufacturing recession began more than a year ago. The non-manufacturing recession began more recently. But the contraction has begun.
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I wish I wasn't here. But the loss of Stephanie, Tony and Zoe is a loss that won't go away. Many people have asked me about my response to this event. They say 'you must hate these people,' but we don't.
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The (Fed) may slow the pace of easing but they cannot stop yet.
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Slower output and employment growth is dampening real income gains, which in turn is slowing spending, ... Although the monthly data continue to be quite volatile during this transition period, the underlying trends are unmistakable -- the economy is slowing from its torrid pace.
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With still strong domestic demand and improving international demand, the factory sector is continuing to recover from the sluggishness that resulted from the Asian economic crisis.
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With the airlines reducing schedules, we've already seen that cascade back on airline manufacturers like Boeing. And that has cascading effects on hundreds, if not thousands, of vendors who supply parts and components to Boeing.
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With employment gains non-existent, income growth has slowed. As households also become more judicious in taking on more debt, consumer spending will remain soft.
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With last week's Fed tightening, mortgage rates have continued to rise, so that further declines in housing activity are likely over the balance of the year. Nevertheless, robust labor markets and rising incomes have helped sustain housing at a relatively high level.
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This relative stability has been remarkable given the ebbs and flows in job creation, the equity markets, the conflict in Iraq, the election campaign, interest rates and gasoline prices.
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This was the first time that the January budget has been in deficit since 1992.
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There is a clear improving trend in orders which provides support for the recovering manufacturing sector, ... Although some of the inventory building that occurred was likely Y2K related and will be reversed in the new year, the acceleration of both shipments and backlogs suggests that the manufacturing recovery has substantial staying power.
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The recent movements in the index suggest only moderate economic growth over the next 6 to 9 months.
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The recent pace of growth in the leaders suggests that economic growth should slow from its 3.6 percent over the four quarters through the third quarter of 2005.