Spending was up, a little weaker than expected... Nevertheless, the trend has been upward and it looks like the consumer is still in the ballgame in terms of supporting economic growth.
More Quotes from Patrick Fearon:
People who are unemployed are finding it relatively easier to find jobs. All around, it's a pretty good situation for the labor market.Patrick Fearon
It could mean that those people don't show up in the jobless numbers until relatively late, so it's an evolving situations in terms of understanding the impact on the labor market.
Patrick Fearon
It seems like this is a conspiracy by the gods to make us economists eat our words when we said manufacturing was back on its feet. It's certainly a disappointing number.
Patrick Fearon
The service sector of the economy is still growing at a good pace and that is consistent with what we were seeing in the employment report for November.
Patrick Fearon
It's certainly lower than expectations so in that sense it was a disappointment, but the key thing is that this is still appreciably better as a growth rate than the long-term average, which is only about 3 percent,
Patrick Fearon
Even though that was an 11,000 increase, you have to say claims remain relatively low and certainly in the range we would expect in a strong labor market.
Patrick Fearon
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