Warm weather and consumers' willingness to spend every penny they have led to a huge increase in retail sales. Households may be tapped out and dipping into savings and wealth, but that still hasn't slowed them down one bit.
More Quotes from Joel Naroff:
Basically, the new boss has the same worries as the old boss. For the markets, this cannot be good news.Joel Naroff
Five years ago, people thought 6 percent unemployment was darn well getting to full employment, ... Even if hits 6 percent, we still have 94 percent of the labor force working.
Joel Naroff
For the average person, the good news is that wage gains are beginning to pull even with inflation and may over the course of the year pull ahead. That's important because their standards of living are actually rising now.
Joel Naroff
The sharp rise in wages is a two-sided sword. On the one hand, workers' income is finally starting to increase, and that bodes well for spending. On the other hand, labor costs are on the rise and that implies potentially higher inflation.
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My view is these guys are out there, they have got some good weather, they have seen some cancellations. They want to get these things in and closed, try to get them into the hands of people as soon as they possibly can.
Joel Naroff
That holds out hope that production can be maintained.
Joel Naroff
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Based on Topics: Money & Wealth Quotes, Sales QuotesBased on Keywords: dipping
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