Consumer confidence is faltering, there is talk of war with Iraq and we have just come through the emotional first anniversary of the September 11th terrorist attacks. August should not have been a good month for retailers, but it sure looks like it was.
More Quotes from Joel Naroff:
While wages didn't rise exceedingly rapidly, the low (jobless) rate is a warning that labor costs are probably going to increase further.Joel Naroff
There is always concern (among some U.S. citizens) of foreigners owning things. The downside is that they take profits out of the business. It goes overseas. That's their right as owners of the business. But we own an awful lot of businesses around the world as well. We've got to recognize that fact.
Joel Naroff
The Fed will not shift its bias. Retail sales numbers for August, which they'll have in hand by the time of the meeting, will be pretty solid, so they will be facing essentially the same thing they've been facing for a while now -- the fundamentals are not that bad, but the stock market is,
Joel Naroff
There has to be some worry on the part of retailers. They may be required to cut prices sooner and steeper than normal.
Joel Naroff
While the rise in core wholesale prices was a bit higher than expected, inflation is not a worry as productivity gains will overwhelm the modest increase in input costs,
Joel Naroff
There was a sharp decline in housing starts in January, but let's not panic just yet. Cold and snowy weather can take its toll on construction, and that may have been the case in January.
Joel Naroff
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