Certainly, we see some encouragement. We see an economy that's still weak... but not falling off the cliff. The notion that we're not going to have a recession is confirmed by these numbers.
More Quotes from Anthony Chan:
There's no question they will have to keep the door open for more cuts. If they see further surprises on the down side with respect to unemployment, they have to remain in play because that has a dramatic impact on consumer confidence.Anthony Chan
The sharper-than-expected PPI decline will undoubtedly raise the stress level of Federal Reserve officials at the next policy meeting since it tells us price trends are moving dangerously in the wrong direction, ... The only consolation, however, is that this report was dominated by energy price declines. Outside of the food and energy price components, price trends appear to be stabilizing.
Anthony Chan
Consumer prices are really what you have to worry about, ... In the consumer price index, there seems to be some extreme resiliency on the service side, which is much larger than the goods side. There's no deflation on the service side.
Anthony Chan
The much stronger-than-expected durable goods number is significant because it comes on the heels of a sizable gain the previous month.
Anthony Chan
Yes, the published consensus estimate was higher, but that survey was compiled before the Chicago PM was released. After that number was released, many Wall Street investors feared that we could see a 47 or 48 reading for ISM.
Anthony Chan
You typically see, from the trough of a recession to the time when the recession ends, a 1.3-percent gain in payrolls, ... From when the recession likely ended, in December of last year, we've had 0.004 percent gain, instead of that 1.3 percent gain. There's a pent-up demand for labor, given such a jobless recovery.
Anthony Chan
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