The burden of higher interest rates will weigh down the housing industry further. This, in turn, should lead to moderated residential construction and home related consumer spending on goods such as furniture, appliances, and home improvement items in coming months.
More Quotes from Steven Wood:
Despite a robust economy and tight labor markets, inflation is still low and steady. These data provide some relief for the Federal Open Market Committee.Steven Wood
The Fed will welcome this report as it suggests that slower economic growth will be extended into the third quarter. The probability of an August rate increase continues to diminish and is now below 50 percent.
Steven Wood
This month's modest gain indicates that the sharp rebound from the post-Hurricane Katrina meltdown has been completed. The gentle slowing trend that had been in place for much of 2005 may have been halted, but it is too soon to tell with any confidence.
Steven Wood
The sharp slowing in domestic demand has dramatically reduced imports. Weakening economic activity in our major trading partners has significantly reduced the foreign demand for American-made products.
Steven Wood
The gentle slowing trend that had been in place for much of 2005 appears to have been halted and partially reversed. However, like many other economic relationships, the one between the index of leading indicators and subsequent economic growth has loosened significantly in recent years.
Steven Wood
Huge swings in energy and motor vehicle prices have masked a sharp retreat in core producer inflation over the past 6 months.
Steven Wood
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