That's not as great as 2003 earnings growth, but still positive.
More Quotes from Anthony Chan:
There's no question unemployment is what drives consumer confidence, which in turn drives consumer spending. We have to be realistic and accept the notion that, as we enter the first quarter and December, these sales are going to get a bit weaker. We're still in a recession.Anthony Chan
When you have a long road to travel, you don't take too many breaks. You just keep on going, ... We're one or two bad numbers away from reassessment of Fed policy, but we're not there yet. Yes, this number is weak, and yes, it's disappointing, but there are some rays of hope in here.
Anthony Chan
The headline number is encouraging, but if you strip out the volatile components and look at core growth, it's telling you we're turning the corner, but we're not running around the corner.
Anthony Chan
This report kind of confirms the market's fears that the economy is limping around on just one foot. At same time, I don't think this report is telling us we're moving toward a recession.
Anthony Chan
Overall, this report is telling us that consumer spending remains somewhat hostage to the rise in energy prices, ... Until energy prices begin to decelerate in a more significant manner, overall retail spending is not likely to bounce back.
Anthony Chan
These numbers give the Fed license to cut rates as much as necessary.
Anthony Chan
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