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...
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.
businesses capital consumers cost factor final sell waiting
Businesses are going to be waiting and seeing. The most important factor is how consumers behave, ... The cost of capital is important, but in the final analysis, you've got to sell products. If you're not going to sell products, you're not going to need capacity.
achilles baton business consumers economic heel needs pass spending
Business spending is the Achilles heel of the economy, ... The economic baton needs to pass from consumers to businesses.
consumers continue spending
Consumers are not on a spending spree, but they continue to spend,
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That's one of the reasons why consumers are not going on a spending spree, though they're keeping the economic ship afloat. When higher unemployment numbers come out, that will probably rattle consumer confidence a bit.
baton consumers economic growth happened needs pass situation
We have a situation where the baton of economic growth needs to pass from consumers to businesses, but that hasn't happened yet,
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.
change consumers decline despite good house negative net picture prices rate slight worth
A slight decline should not change the picture that much, ... If you look at the fundamentals, despite all the negative news, consumers are in pretty good shape. The jobless rate is pretty low, and their net worth is going up because house prices going up.
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It clearly tells us that consumers have and will continue to sustain and support economic growth, ... Consumers have really been the backbone of current economic growth and will continue to be a stabilizer for the balance of this year.
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.
economy seems
Even before the attack, the economy seems to have relapsed into the doldrums,
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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.