For a long time we've been looking for consumer spending to slow down, ... It's a question whether this is a trigger for a broader slowdown in consumer spending and the housing market.
More Quotes from Nigel Gault:
We are now at the point where Hurricane Katrina's effects are adding to job creation rather than detracting from it.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
There is a risk that we will push up above 2 percent, not necessarily over the next month but sometime over the next few months. That will be a concern to the Fed.
Nigel Gault
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.
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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