The rise in oil prices was always likely to hit these numbers with a vengeance, and the petroleum deficit duly rose by 1.4 billion.
More Quotes from Ian Shepherdson:
The report suggests that industrial orders are trending higher as manufacturing recovers from the Asia crisis. There are no real signs of a slowdown.Ian Shepherdson
The Fed chairman is not habitually in the business of delivering shocks to the markets unless the circumstances are especially dire. That is certainly a fair description of the situation in the states hit by Katrina, but it does not apply to the rest of the economy.
Ian Shepherdson
Ignore the ISM at your peril, ... Assuming this report is not a fluke - everything we look at suggests it is very real - it is consistent with year-over-year GDP growth accelerating to 4 percent by the summer.
Ian Shepherdson
We doubt that this report unambiguously points to slower growth ahead --but it does mean no rate hike on (Aug.) 22,
Ian Shepherdson
We expect a big drop in September Katrina has depressed sentiment and pushed up jobless claims.
Ian Shepherdson
There is nothing to be scared of here. When you take out several one-time gains including apparel, tobacco and lodging, prices were almost unchanged.
Ian Shepherdson
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