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,
More Quotes from Nigel Gault:
We believe the numbers today are confirming our view that growth will be soft throughout the rest of the year.Nigel Gault
Growth was very good in the third quarter. We really suspect that the last two reports greatly understated the underlying strength of the labor market.
Nigel Gault
It is possible that the hurricanes that hit in August and September had a bigger impact on measured GDP growth in the fourth quarter than in the third. ... The hurricanes probably dragged on investment, too.
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
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.
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
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