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...
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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.
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Washington will pump massive amounts of aid into the Katrina-affected areas boosting economic activities.
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Manufacturing could be a key driver of economic growth in the future, as opposed to being a big drag as we've seen in the past, ... Even employment, which has been weak, should be coming around as demand continues to pick up steam.
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Businesses have regained confidence in the sustainability of this economic expansion and have started to hire people in earnest. Employers are trying to boost employment by adding more workers, not more hours per worker.
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Business spending is the Achilles heel of the economy, ... The economic baton needs to pass from consumers to businesses.
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Right now I've taken (a stimulus package) out of my economic outlook, but there is still a chance that it will pass.
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One of the biggest economic uncertainties is whether the ongoing layoffs will mushroom and spread,
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This summer's energy shock will cascade through the economy. A brutal winter heating season can't be ruled out. Detroit is losing steam,
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Without the terrorist attacks, we would be experiencing economic recovery in this quarter.
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It's not necessarily a negative, from the point of view of economic growth, ... Even in Washington, D.C., the government work will be made up.
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Construction spending is always a lagging economic indicator, especially in commercial construction, because of the time it takes to plan, execute and build. I expect housing to be a stabilizer, but commercial construction to be a drag on economic growth for a while to come.
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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.
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We have a situation where the baton of economic growth needs to pass from consumers to businesses, but that hasn't happened yet,
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We're going to get an economic boost from not only production, but from inventory buildup during the current quarter, and probably for the balance of this year.