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...
core energy huge inflation masked motor past prices producer retreat sharp swings vehicle
Huge swings in energy and motor vehicle prices have masked a sharp retreat in core producer inflation over the past 6 months.
although deep financing hurting induced industrial maintain production rest sales sector stepped vehicle
Manufacturing is still mired in a deep recession. Although vehicle production has stepped up to try to maintain a low-cost financing induced sales explosion, the rest of the industrial sector is hurting badly.
combined consumer early forecasts growth lower pace retail sales scope second slower spending vehicle
Importantly for the Fed, the pace of real consumer spending slowed in March, and combined with early forecasts for lower vehicle and retail sales for April, suggests there is some scope for slower growth in the second quarter,
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,
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.
committee continue employment federal interest labor markets open payroll raise rise strong
Labor markets are very strong and payroll employment should rise by 200,000 or more in February. The Federal Open Market Committee will continue to raise interest rates.