What we are seeing is that these numbers are coming in line with other confidence figures, which shot ahead in May and June with oil prices falling, and now with oil prices soaring, we are seeing the effect from higher prices at the pump.
More Quotes from Michael Englund:
Today's report simply reinforces the belief that it will be 25 points instead of 50 points.Michael Englund
Going into the hurricane we had a shortage of refining capacity anyway. This just throws a hand grenade into the already delicate balance.
Michael Englund
Even with the weakness in the headline number, the rest of the story looks good. June, July, August have all shown strength in retail sales outside of autos.
Michael Englund
Overall, they were a bit concerned about inflation and see strong growth, which supports the notion that they will continue to tighten policy. But after Katrina, all bets on how much they might tighten are off the table,
Michael Englund
It's a slow week for releases, ... I think there's almost no chance the productivity revision or the wholesale inflation numbers will have much effect on the Fed's March policy decision.
Michael Englund
We're expecting a solid year for equipment and software spending. Businesses seem to have very optimistic plans for investment in 2006.
Michael Englund
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