The impact is going to be very significant -- it may shave as much as a half-percentage point from economic growth this year.
More Quotes from Mark Zandi:
The rate of technical change, which is the most difficult thing to measure, seems to be slowing from the unprecedented pace of a few years ago.Mark Zandi
Christmas sales are shaping up to be OK.
Mark Zandi
Bush will paint Kerry as being a tax-and-spend liberal and Kerry will paint bush as only providing tax cuts for the rich.
Mark Zandi
People are able to pull money out of their homes and put it into their gas tanks. So the overall effects on consumer spending have been small.
Mark Zandi
I thought oil would have been a concern since it hit 40 but the economy has digested it well,
Mark Zandi
So far, it's weakening, not caving. But it's been a tricky policy to deflate housing, not crater it.
Mark Zandi
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