Sung Sohn
Sung Sohn
Sung Won Sohnis a Korean American economist, noted for his skill in economic forecasting. He is currently the Martin V. Smith Professor of Economics at California State University, Channel Islands...
both bring business closure confidence consumer depressed economy expect improve somehow stock taking war
Both consumer and business confidence is depressed because of uncertainty surrounding the war, ... If we can somehow bring closure to the war situation, I would expect confidence to improve dramatically, taking with it the economy and the stock market.
both jobs sent service time
More and more jobs, both manufacturing and service jobs are sent overseas; these jobs won't come back any time soon.
boat both business businesses caution competition continuing domestic employees facing few focused foreign gains hiring reflecting report slow
This report is a slow boat to China, reflecting continuing business caution about hiring people. Facing unprecedented competition from both domestic and foreign sources, businesses are still focused on productivity gains with as few employees as possible.
both confidence consumers gains income labor market steam unless
Unless the labor market gains some steam and momentum, both real income and confidence of consumers would be hurt.
both call economists meaning works
This is what economists call a simultaneous process, meaning that it works both ways.
accelerate america balance both business capital cause confidence consumer corporate cost desire financial higher hurt loss plans reduced reporting spending strengthen
The loss of confidence in the financial reporting of Corporate America could hurt both consumer and business spending, ... The reduced availability and higher cost of credit, as well as the desire to strengthen the balance sheet, could cause firms to postpone capital spending plans and accelerate layoffs.
distinct interest pushing rates
Crowding out could become a distinct possibility in the future, pushing up interest rates significantly in 2005 and beyond,
argentina compared economy mexico potential relatively small
Argentina is not a potential nightmare. It's a relatively small economy compared to Mexico and Brazil.
businesses coming continued employment gains hiring increase maintain might primarily reasons seeing temporary trying
Employment gains really haven't come from full-time workers. They're coming primarily from part-time, temporary help, ... Businesses are still trying to maintain flexibility by not hiring more expensive, full-time workers. That might be one of the reasons why we're seeing an increase in continued claims.
confidence consistent consumers east employment gains impact market michigan middle overall picture report retail rising sales situation slower stock taking turmoil
Employment gains are rising at a slower rate, retail sales are decelerating somewhat, the stock market is going through some turmoil and the Middle East situation is also probably having a dampening impact on consumers' willingness to spend, ... So I think the Michigan confidence report is consistent with an overall picture in which consumers are doing well, but probably taking a breather for a while.
economy seems
Even before the attack, the economy seems to have relapsed into the doldrums,
economy ensure fed fuel inflation left measures preventive taking
There's so much liquidity in the economy right now that, left alone, it could become fuel for inflation, ... I can see the Fed taking preventive measures to ensure inflation doesn't become a problem.
close higher number overall somewhat
Probably the overall (CPI) number will be somewhat higher than anticipated, but like PPI, the core-number should be close to forecasts,
beginning begun business capital consumer cylinders economic growth improve inventory outside spending swings third
The third cylinder of economic growth is beginning to fire, ... The other two cylinders are inventory swings and consumer spending. Outside of telecommunications and airplanes, business capital spending has begun to improve already, beginning in the first quarter.