A reading as high as 58.5 is consistent with an economy that is growing at a healthy pace. We see encouraging signs of moderating prices, although the vast majority of purchasing managers seem to be facing higher prices.
More Quotes from David Resler:
The job picture is as bad as it's been in the past 18 months. I don't think we can find enough special qualifying factors to give us an increase in payrolls.David Resler
We're at the stage of the business cycle where statisticians can't keep up with rapidly changing developments, especially new businesses. That's where the greatest potential for an upward revision is.
David Resler
Economic conditions look pretty grave right now. Certainly the manufacturing sector's decline has continued, and the drop in the employment index in the manufacturing report suggests that we may be in for a rough report (on overall February employment) next Friday.
David Resler
We still have yet to see much evidence that any of this is translating into an inflation threat. Until it does, I don't expect the Fed to move.
David Resler
Claims continue hovering slightly above the 300,000 mark, implying strong, steady labor market conditions.
David Resler
People don't seem to be so concerned that they're unwilling to commit future income to such purchases. The fact that people are willing to do that speaks much louder about consumer attitudes than what they tell some survey.
David Resler
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