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...
adjustment although decline deep eventually factory giving rapid rate reducing sector slow ultimately
Manufacturing is still mired in a deep recession, although the rate of decline may be slowing. The rapid adjustment in reducing inventories will eventually slow and ultimately reverse, giving the factory sector a lift.
aftermath associated climbed consumer december declines energy followed higher huge katrina optimism rita soaring
Consumer optimism climbed higher in December after soaring in November. This followed huge back-to-back declines in the aftermath of Hurricanes Katrina and Rita and the associated surge in energy prices.
bloated data declines demand economy further indicate output slowing
These data indicate that the manufacturing sectors of the economy are still reeling from slowing demand and bloated inventories. Further declines in output are likely.
attitudes consumers declined economic financial last level modestly optimistic personal remain six
Households' economic attitudes have declined modestly over the last six months, ... But the level suggests consumers remain very optimistic about their personal financial condition.
across activity both broad business consumer declines industrial reflecting
Industrial activity is contracting across a broad set of industries, reflecting the declines in both consumer and business spending.
add concerns declines evidence forecast general growth related slower unclear whether
It's unclear whether the declines are related to year-end concerns or to a more general softening in manufacturing activity, but they do add evidence to the (Fed's) forecast for slower growth going forward.
activity decline despite housing quite remains robust slowing stock
Housing activity remains quite robust despite the slowing economy, decline in jobs, and faltering stock market.
distorted effects figures foreign trade
The trade figures are distorted by the effects of foreign re-insurance on the World Trade Center. Nevertheless, international trade is contracting.
adjustment due factory inventory largely spring
The spring slowdown in factory activity, due largely to an inventory adjustment cycle, is now history,
correct cycle last
It confirms that the (Fed) was correct in pausing their tightening cycle at last week's meeting.
pleased
The FOMC will be pleased with this report,
gain given housing january recent spending starts strength warm weak
The January gain in construction spending was surprisingly weak given the recent strength in housing starts and unseasonably warm weather.
although benefits creation increased job layoffs number pace past people receiving remains state
In the past year, ... the number of people receiving state benefits has increased by more than a million. Although the pace of layoffs has eased, job creation remains nonexistent.
despite gains income labor moderate remain spending sufficient support
Despite the loosening of the labor markets, income gains remain sufficient to support spending at a moderate pace.