The main thing holding back the economy in the past year and a half has been a lack of business confidence, and now we're seeing these surveys with a fairly optimistic take on the economy. The non-manufacturing survey certainly reflects the general increase in confidence, and that's a self-fulfilling thing.
More Quotes from Ethan Harris:
The labor market's going to have a long, slow climb. Corporate America is going to use whatever means it can to boost output without hiring. They're going to wait and wait for confirmation that growth is really picking up before they move into serious job hiring.Ethan Harris
It's not a question of a sudden explosion in prices. It's more an erosion of the low-inflation psychology.
Ethan Harris
The reason the recovery was so feeble was you still had these hangover effects from the real estate and banking sectors, ... Real estate was still reeling from excess capacity and the whole thrift industry had been decimated by bad loans.
Ethan Harris
The one thing that companies can do quickly without laying people off is reduce the number of hours per week as the economy slows, that's the natural place for a company to cut back. It's a little harder to pull back quickly on job hiring.
Ethan Harris
You probably want to subtract about two-tenths of a percent from first-quarter GDP growth. But that's looking like very old history, with the Fed having eased twice since the first quarter. From the market's perspective, you feel like you're in a different world already. The first quarter looks very distant, indeed.
Ethan Harris
The U.S. pointing to China is a bit like the pot calling the kettle black. The deficit with China reflects poor policy on both sides of the Pacific.
Ethan Harris
Readers Who Like This Quotation Also Like:
Based on Topics: Business & Commerce Quotes, Confidence Quotes, Past QuotesBased on Keywords: non-manufacturing, self-fulfilling
Because running fast is more fun than running slow.
Frank Shorter
So that's what's going on right now, and I'm looking to put out an album within the next six months.
Christy Romano
I don't like writing essays or theory.
Adrian Mitchell