The data is squarely at odds with the anecdotal evidence one gets from those in the industry.
More Quotes from David Orr:
As is evident, a clear deceleration appears to be underway, ... The gain was not large enough to recoup the 13.1 month-over-month decline in July.David Orr
Given that the Fed has indicated this is a key number, that's very hopeful,
David Orr
The Fed views potential inflation as last year's problem. This year, they will be focused on promoting a rebound in growth.
David Orr
We seriously doubt this report will dissuade the Fed from a 50-basis-point hike today. But if the May 'core' report is also benign and May retail sales are only moderate, that could cause the Fed to take a pass at the June 28 meeting.
David Orr
We're getting a flip with these numbers, ... We had been seeing all year long the consumer doing well and the manufacturing sector doing poorly. Here, consumer confidence has fallen, but there's a hint of the manufacturing sector stabilizing.
David Orr
While the monthly data is often erratic and the government statisticians warn that it takes four months to establish a change in trend, it is pretty clear from the top chart that the explosion in housing from 1997 through early 2000 is ending.
David Orr
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I see no reason to keep silent about my enjoyment of the sound of my own voice as I work.
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