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.
More Quotes from Patrick Fearon:
The drop in jobless claims is a darn good number. A number in the range of 325,000 to 350,000 is a level that is more consistent with healthy economic growth.Patrick Fearon
We still think that the growth rate will slow substantially in the fourth quarter, in part because the housing sector is softening which will tend to soften consumer spending as well. That is one factor that will probably help the Federal Reserve eventually conclude its monetary tightening cycle.
Patrick Fearon
It looks like warm weather had a big impact so the big jump in January housing starts can be attributed to that. However, the moderating trend in housing really is still in place.
Patrick Fearon
The fact that (core inflation) has been on a downward trend for two months is more evidence that Fed policy-makers might stop raising interest rates sooner rather than later.
Patrick Fearon
Manufacturing in broad terms is enjoying a very robust period even if certain sub-industries are struggling. It's probably another piece of evidence that the Fed could potentially be raising interest rates after the May 10 monetary policy meeting.
Patrick Fearon
Companies are reaping the benefit of enhancements in technology discovery, which has helped them increase their productivity. At the same time, there is a level of competition in the economy that is quite a bit stronger than it has been in the past.
Patrick Fearon
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