It's nothing short of incredible. It's not enough to send me scurrying to raise my forecast for next year, but it's pointing toward considerable momentum going into the new year. It gives me more confidence we're going to be able to maintain strong growth in the first half.
More Quotes from David Resler:
Nevertheless, money supply contractions are often harbingers of bad times ahead, and if this lasts much longer, people will get more concerned.David Resler
People are still planning to spend, and today's income numbers tell us that they have the wherewithal to do so.
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The dollar's still strong against the Chinese currency and China continues to expand its capacity to flood the world with consumer goods.
David Resler
Consumer confidence follows oil prices quite significantly. The drop in oil prices since the start of the war has had a quick and immediate impact on people's attitudes.
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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.
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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.
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