Energy prices were rising before Katrina hit, and while those costs didn't make their way through to finished goods in August, we have to expect higher core inflation in coming months. Firms are saying that they've absorbed so much already that they have to pass on these costs.
More Quotes from Nigel Gault:
It's interesting because the economy is growing in real terms, so you would expect to see the markets frequently posting all-time highs, because the trend is (naturally) up.Nigel Gault
The bottom line is that the job market carried good momentum and the economy can weather the temporary hit from the hurricanes.
Nigel Gault
With consumers likely to return to the malls from the auto showrooms, spending in other areas will pick up again, especially once cooler weather arrives to give a boost to fall clothing,
Nigel Gault
This latest report is unmistakable evidence of an improving economy. What you have to look for is evidence that the fourth-quarter slowdown in economic growth will continue. And this jobs report is evidence that just the opposite is happening.
Nigel Gault
These figures suggest that growth is stable but not extremely strong. These figures should add to the conviction in financial markets that the Fed will soon be able to stop raising rates.
Nigel Gault
We believe the numbers today are confirming our view that growth will be soft throughout the rest of the year.
Nigel Gault
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