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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Huge swings in energy and motor vehicle prices have masked a sharp retreat in core producer inflation over the past 6 months.
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The general slowing in the growth of the leading indicators over the past year suggests the pace of economic growth should gradually slow over the next three to six to nine months.
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Labor markets are deteriorating rapidly. Layoffs remain at a fast pace, while hiring has all but stopped. As economic activity continues to unravel, there are few prospects for a near-term turnaround. The national unemployment rate, now at 4.9 percent, should breach 6 percent before the economy begins to recover.
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Momentum in the leading indicators has slowed over the past year, suggesting an impending slowdown in economic growth.
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Housing activity, which has contributed significantly to economic growth over the past 2-1/2 years, has now passed its peak and will be largely neutral to negative over the next several quarters, ... This slowdown will be welcomed at the Federal Reserve.
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Labor markets are deteriorating quickly in the wake of the terrorist attacks on September 11. The economy was quite weak before the attacks, which have accelerated the pace of layoffs. As layoffs spiral higher, hiring activity has stopped, giving a strong upward push to joblessness.
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Higher claims suggest slower job gains, which should dampen income growth, consumer spending, and overall economic activity.
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Because the U.S. economy has slowed more sharply than the international economy, imports have been impacted more than exports, thereby narrowing the trade deficit.
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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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The positive influence of tax rebate checks and lower energy prices is being overwhelmed by the adverse impact of highly noticeable layoff announcements and the turmoil in the stock market,
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We are looking for a very dismal report,
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The pace of layoffs is rising again, while new hiring has stopped, ... These trends will likely be extended because of the economic dislocations associated with this week's tragic events.
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The pace of layoffs is rising again, while new hiring has stopped. These trends will likely be extended because of the economic dislocations associated with this week's tragic events.
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Weakness in the composite index suggests that economic growth will slow over the next three to six months.