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...
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.
consumer early economy-and-economics gains income increased major next recession slowing support
Slowing income gains and increased uncertainty have savaged consumer spending. This has removed the only major support for the economy, insuring the recession will last, at least, into early next year.
although appears consumers due gains ready retail spending stronger throw
Retail spending was much stronger than anticipated. Although some of these gains were due to post-hurricane spending, it appears that consumers are not yet ready to throw in the towel.
associated claims continuing employment gains gradually labor levels markets payroll
New and continuing claims are at levels that historically have been associated with payroll employment gains of around 225,000. Labor markets are gradually improving.
deep dramatic due economy gains helping recent reduction reflect solid trouble work
Solid productivity gains are helping to restrain inflationary pressures. However, because the recent improvements are due to a dramatic reduction in work hours, they reflect the deep trouble the economy is in.
consistent data employment gains payroll
These data are broadly consistent with payroll employment gains in the 200,000 to 250,000 (monthly) range.
based both broader cause concerns consistent data economic gains improvement measures power pricing reflects restrained slightly
These data are consistent with slightly better pricing power for both importers and exporters, which reflects the improvement in international economic activity. However, the gains are sufficiently restrained as to not cause any concerns about broader based measures of inflation.
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.
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,
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.
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,