Housing, the strongest part of the economy, is still booming, and manufacturing, the weakest part, should gain strength in coming months. Put it all together and it paints a pretty economic picture of solid growth and low inflation.
More Quotes from Mark Zandi:
So far, it's weakening, not caving. But it's been a tricky policy to deflate housing, not crater it.Mark Zandi
The rate of technical change, which is the most difficult thing to measure, seems to be slowing from the unprecedented pace of a few years ago.
Mark Zandi
There has been a global pick-up in inflation due to the surge in energy prices, and that gives cover for US manufacturers to lift their prices more aggressively. Central banks across the globe are tightening policy in fears that the surge in energy prices will infect inflation more broadly.
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This should be a year where the tech market stabilizes but I don't see job growth until 2004.
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Christmas sales are shaping up to be OK.
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Bush will paint Kerry as being a tax-and-spend liberal and Kerry will paint bush as only providing tax cuts for the rich.
Mark Zandi
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