We've now had three straight quarters of above-average growth, and that's nothing to sneeze at.
More Quotes from Patrick Fearon:
The housing starts figure coming in down 5.6 percent was weaker than expected and seems consistent with our thesis that the housing sector is moderating. The big decline in housing permits reinforces that idea.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
That would support the idea that the Fed can stop raising rates soon.
Patrick Fearon
The good news is that this is much more moderate than we had seen in September and August and it brings the annual inflation rate down to 4.3 percent.
Patrick Fearon
There was decent strength across the retail sector. These numbers are consistent with an economy growing at a comfortable rate, a pace that would allow the Fed to continue to raise interest rates in a measured fashion.
Patrick Fearon
The numbers are still quite healthy, they're still well within the range you would expect in a period of high demand for labor.
Patrick Fearon
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