The Chicago number is generally more affected by the auto sector and you do have reports of lower auto sales down from July's gangbuster numbers,
More Quotes from John Shin:
We do think you're going to see a drop off in consumer spending in coming months. Part of the reason is workers are experiencing pain in their take-home pay. You're still seeing other areas of the economy kicking in. These will offset some of the negatives from lower consumer spending.John Shin
The index is noisy on a week-to-week basis, but it is painting a broad picture of a cooling housing market.
John Shin
Fourth-quarter growth is going to be softer, primarily because of lower consumer spending, but we expect better growth this quarter. A major part of it is the sharp drop in auto sales, and we wouldn't expect to see that again.
John Shin
This will get people thinking a little bit more about the inflation risks the Fed has been talking about.
John Shin
This doesn't do anything to change the expectation for payrolls tomorrow, even though it is eye-catching that claims fell below 300,000.
John Shin
While we still expect the housing market to cool gradually -- and the data over the past couple of quarters has been consistent with that view -- the February existing home sales number shows the considerable strength that is still in the residential sector.
John Shin
Readers Who Like This Quotation Also Like:
Based on Keywords: julysHe hath freedom whoso beareth clean and constant heart within.
Quintus Ennius
Actually, I think I come at things a whole different way from most people, and, you know, sometimes political answers are one way to solve the problem, and sometimes there are better ways to do it.
Craig Benson
There has not yet been a major ground offensive battle... There are, we know, negotiations going on between the opposition forces and the Taliban leadership for surrender.
Peter Pace