Mark Vitner
Mark Vitner
account bad decisions far growth income influence news percent personal recent salary since spending tend wage wages weakness
The recent weakness in wage and salary growth is bad news for retailers, since wages and salaries, which account for more than 56 percent of personal income, tend to influence spending decisions far more than other income sources.
along badly business came economy economy-and-economics inventory numbers realizing result revised saw second slightly trade weaker weakness week wider zero
We're just now realizing how badly off the economy was in the second quarter, ... The wider trade gap, along with the weakness we saw in the business inventory numbers that came out this week and weaker construction spending, will probably result in a second-quarter revised GDP number that will be zero or even slightly negative. It will be an eye-opening number, but it's no more worrisome than what we've seen.
abruptly afterwards ahead came chicago fed late month quite soon weakness
Back in late 2000 the Chicago PMI weakened a month ahead of the ISM survey. The weakness then also came quite unexpectedly and soon afterwards the Fed abruptly reversed course,
expect given weakest weakness
We expect to see weakness in the PPI given the weakness in manufacturing, which is the weakest part of the economy,
anywhere chicago follow near next report weakness
So even if tomorrow's ISM report does not show anywhere near the weakness the Chicago report does, we could still see some follow through in the next month's numbers.
fairly healthy home level percent sales year
When all is said and done, we should still have a fairly healthy level of new home sales this year -- probably up 4 to 5 percent for the year.
attracted greater portion
The same thing that has attracted retirees over the years is still there: the weather. You can do more things for a greater portion of the year.
coming expected gain job likely state states
The state is expected to gain 150,000 new residents this year, with two-thirds of the adults likely coming from other states for job opportunities.
awful create labor market mess tight
It would create an awful mess in Florida, where the labor market is tight by any definition.
anecdotal anywhere common common-sense core evidence inflation near
Anecdotal evidence and common sense suggests that core inflation has not been anywhere near this tame.
cause damage flood insurance lack likely recovery tend
Flood damage does not tend to be as insured. The lack of insurance is likely to cause the recovery to be delayed,
above below came gas higher huge interest knock market number prices rates relief rising sign
There was a huge sign of relief when the number came in above 100, and that's why the market rallied, ... There was a thought that the combination of rising interest rates and higher gas prices would knock it below 100.
serious view
We do not view this as anything more serious than a much-needed correction.
america corporate downside eating equivalent far growth healthier hiring means roughly stomach stronger tough
Corporate America is on the mend. The only downside of stronger productivity growth is that it means hiring is lagging. As far as downsides go, this is roughly the equivalent of eating your broccoli. It may be tough to stomach at first, but it makes you stronger and healthier in the long run.