The orders data confirm that demand is very robust and we expect a significant acceleration in output growth shortly.
More Quotes from Holger Schmieding:
We think around 4.5 percent is the adequate level for U.S. interest rates -- you could call it a neutral level -- and as there are modest inflation risks in the U.S., we expect the Fed to go slightly beyond that to 4.75.Holger Schmieding
Faced with an extremely high euro and high wage costs, the companies stepped up their restructuring. When the euro declined last year, they suddenly found they could take on the world quite easily.
Holger Schmieding
The ECB probably has not found a consensus yet on rate policy beyond Dec. 1. For this reason, the ECB is unlikely to provide any clear Fed-style guidance on the future course of rates,
Holger Schmieding
The evidence on U. K. consumption remains contradictory. Some data such as weak consumer confidence and the reluctance to use credit cards point to further weakness ahead. However, the modest rebound in the real estate market and anecdotal evidence of satisfactory Christmas indicate a modest strengthening in spending.
Holger Schmieding
The figures are not proof yet of an economic slowdown as they are being distorted by cutbacks in work creation programs.
Holger Schmieding
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