Cold weather and a rebound in oil production helped power a strong gain in output.
More Quotes from Joel Naroff:
As far as inflation goes, this was as good as you could possibly get.Joel Naroff
With consumers spending a little less and business investment likely to slow, that will translate to a bit slower growth for factories.
Joel Naroff
The new Fed chair will be tested right off the bat. The economy is slowing, though clearly not as rapidly as the headline number would have you think. ...At the same time, inflation is slowly accelerating.
Joel Naroff
The Fed will remain on inflation watch.
Joel Naroff
Almost all the intermediate level goods are rising, and rising sharply. Commodity prices are on the rise, there is no doubt about that. Finally, at the crude level, just about everything is increasing, ... This is not that tame a report.
Joel Naroff
Next week's jobs report will be key to the income data and need to be watched as much for that reason as for the unemployment rate and job growth, ... Another month of weakness in the hours worked and wages data would be worrisome.
Joel Naroff
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