This jump in inventories will marginally lift second quarter GDP growth expectations, ... We look for growth of between 2.5 percent and 3 percent, with inventories adding some 0.75 percent.
More Quotes from Ian Shepherdson:
A big headline drop was always in the cards after the weather-assisted surge in January, which hugely boosted retail activity.Ian Shepherdson
The bottom line here is that the month-to-month volatility in the durable orders data is such that the true information content in a single report is very small -- there's just too much noise.
Ian Shepherdson
A clearer demonstration of the unpredictable havoc Easter plays with seasonal adjustments you could not hope to see,
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
This is great news. These are very helpful numbers to those -- including us -- who think the Fed will not raise rates next month.
Ian Shepherdson
With three sub-300,000 numbers in the past four weeks, it is beginning to look as though there has been some real improvement in the labor markets this year.
Ian Shepherdson
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