Growth was lower than expectations because of inventories -- which will need to be rebuilt -- while moderating employment costs will make it less costly for firms to hire additional workers. The still-strong level of wage and salary should buoy consumption.
More Quotes from Drew Matus:
The problem with higher energy prices is that they act like a tax on the American consumer. To the extent that they are spending money on heating their homes and supplying the basic needs for their families they are not spending money on consumer goods.Drew Matus
This raises possibility of a pass through into core inflation. While companies can absorb some of the pipeline pressures, the way to do so is productivity gains that we're not seeing anymore.
Drew Matus
We've got some good news in this report but it's likely to be short-lived. We can expect the large trade deficits we've come to know to continue for the rest of the year.
Drew Matus
The important thing, though, (it that) it's a January number. So we ended the fourth quarter on 1.1 GDP growth, but now, starting the next new quarter, we're going to have this surge in housing activity. And it's going to add to GDP estimates for the first quarter.
Drew Matus
On a real basis the trade deficit widened by over 1.7 billion for the month and places the trade balance on a trajectory that would likely reduce fourth-quarter GDP growth by more than 0.5 percent.
Drew Matus
Of course it's great for inflation. But, really, the market doesn't care about the numbers because they're not the payrolls report.
Drew Matus
Readers Who Like This Quotation Also Like:
Based on Keywords: buoy, still-strongThere's no better feeling in the world than a warm pizza box on your lap.
Kevin James
I don't know who invented high heels, but all women owe him a lot.
Marilyn Monroe
The nature of anguish is translated into different forms.
Franz Kline