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...
correct cycle last
It confirms that the (Fed) was correct in pausing their tightening cycle at last week's meeting.
business concerns consumers cycle despite future optimistic remain turning typical
Consumers still remain optimistic about the future despite having some concerns about the present. This is very typical of a business cycle turning point,
activity although clearly correct cycle last momentum report sector
Although manufacturing activity is still expanding, momentum in the manufacturing sector has clearly faded. This report confirms that the FOMC was correct in pausing their tightening cycle at last week's meeting.
above boost current economic estimate growth help overall
This will help boost overall economic growth to above 4 percent; our current (third-quarter) estimate is 4.5.
although declines drop few further gradually higher hints likely maximum output period rate ratio sales weakness
There are a few tentative hints -- higher new orders, a drop in the inventory-to-sales ratio -- that the period of maximum weakness has likely passed. Although further declines in output are anticipated, the rate of decline should gradually diminish.
consumer debt employment gains growth households income judicious remain spending taking
With employment gains non-existent, income growth has slowed. As households also become more judicious in taking on more debt, consumer spending will remain soft.
conflict election equity flows gasoline given interest job rates relative remarkable stability
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.
although both building clear improving inventory likely occurred orders provides recovering recovery related shipments staying support trend
There is a clear improving trend in orders which provides support for the recovering manufacturing sector, ... Although some of the inventory building that occurred was likely Y2K related and will be reversed in the new year, the acceleration of both shipments and backlogs suggests that the manufacturing recovery has substantial staying power.
creation job layoffs
With a longer-term view, layoffs have accelerated, job creation has slowed, and joblessness has increased.
declining gains good input labor occurs rapidly situation
While good gains in productivity are economically favorable, it is not a good situation when this occurs because labor input is declining more rapidly than output.
budget deficit january since time
This was the first time that the January budget has been in deficit since 1992.
august force hand remains
While this will not force the Fed's hand at this week's meeting, an August tightening remains a real possibility.
data economic extend key labor markets open pressure quarter questions relieve rest second slow spending sufficient suggest welcome
While these data will be welcome by the (Fed), two key questions remain. Will the second quarter spending slow down extend through the rest of the year? Economic fundamentals suggest they will. And will the spending slowdown be sufficient to relieve pressure on labor markets and inflation? At this point, that is still an open question.
data economic extend key labor markets open pressure quarter questions relieve rest second slow spending sufficient suggest welcome
While these data will be welcome by the (Fed), two key questions remain, ... Will the second quarter spending slow down extend through the rest of the year? Economic fundamentals suggest they will. And will the spending slowdown be sufficient to relieve pressure on labor markets and inflation? At this point, that is still an open question.