Some companies have pulled ahead of spending, at least on the short term, ... That could help the fourth quarter number. I think the fourth quarter might surprise us on the upside, coming in somewhere between 3.6 percent and 4.0 percent growth. But we've got a general slowdown coming -- we're forecasting 3.2 percent growth for all of 2005.
More Quotes from Gina Martin:
Economists all realize this number is not a big deal, but people will be trading on the number this week whether it's a big deal or not.Gina Martin
If anything, this confirms the Fed's bias towards inflation rather than worrying about a slow down in growth. The Fed seems to have no worries about growth, as least as far as manufacturing is measured by ISM.
Gina Martin
Single family housing starts, which correlate closely with changes in average mortgage rates, remain robust for now, ... We should start to see this series moderate in future months as higher mortgage rates keep a lid on borrower interest. However, mortgage rates have plenty of room to move before they even reach pre-recession levels. As a result, we may not see a slowdown in housing construction until the autumn months of this year.
Gina Martin
Consumers are experiencing very strong income gains and that's helping them deal with these gas prices a little better. It's providing quite a cushion.
Gina Martin
The underlying labor market is probably about the same, with claims in the 300,000 to 320,000 range and job creation of 180,000 to 200,000 a month.
Gina Martin
Sometimes, we're wondering what we can do to help and unfortunately, these people are going through a difficult time. It's a small part we can play. At least it's something we can do.
Gina Martin
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