Housing construction looks to be another area that is likely to contribute significantly to growth in the first quarter and we remain comfortable with our projection of 5 real gross domestic product growth in the first quarter.
More Quotes from John Ryding:
We've created a buying opportunity in effect.John Ryding
I think it's something we're going to have to learn to live with until the fundamentals can reassert themselves. But I do believe that the favorable fundamentals of strong U.S. economic growth and low inflation are here to stay for awhile.
John Ryding
There are obviously going to be losers and there are going to be winners from the stronger dollar. The U.S. consumer is the clear winner.
John Ryding
The solid trend in payroll growth has been maintained into February. Reduced labor market slack, illustrated by the decline in the unemployment rate since June 2003, appears to be putting upward pressure on wage increases.
John Ryding
Although we expect consumer spending to slow sharply in the fourth quarter, to below 2 percent, as a result of lower auto sales, we expect that GDP will still edge back above 4 percent on an inventory rebound, higher business spending, and hurricane recovery spending.
John Ryding
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