Not only is the manufacturing sector back up and running, but investment activity is beginning to pick up as well, ... There are some weak sectors remaining, but they are extremely few and far between.
More Quotes from Joel Naroff:
We still are looking at sluggish fourth quarter for consumption that should restrain GDP growth sharply. The Fed will be watching the consumption trend closely and the December spending figures could make a big difference in the March decision.Joel Naroff
Housing added solidly to growth last year but don't expect that to be repeated this year.
Joel Naroff
What we are basically looking at is an economy that is not very different from the economy last year. Depending on your industry and depending on your business, if you liked last year, you will probably like this year.
Joel Naroff
This is it for the major data this year and only the window-dressers will likely care. And their moves are for show and dough, not for fundamental reasons.
Joel Naroff
The decline in new home sales in January makes it clear that there is some real softening in the housing market.
Joel Naroff
But if inflation does keep moving higher -- and right now, that is a real possibility -- the (Fed) is quite prepared to keep raising rates.
Joel Naroff
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