We expect productivity growth to moderate, and compensation gains and unit labor costs to pick up. Just another piece of the puzzle that points toward more Fed tightening than the market currently expects.
More Quotes from Stephen Stanley:
There is sufficient upbeat news on the economy to convince the FOMC to tighten. If the economy warrants a rate hike, the Fed would be doing a great service by delivering.Stephen Stanley
The report follows the recent pattern of strong growth and no inflation.
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The 'economy is weakening' crew will have a field day with this report. But until we see two weak numbers in a row, I am absolutely unconvinced. . . . Disappointed Definitely. Changing our big picture view No.
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While housing demand will probably continue to moderate from the torrid pace seen in the last few years, housing starts should remain well-supported in the coming months, as builders' backlogs remain near record levels and rebuilding along the Gulf Coast will eventually boost activity.
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The factory sector appears to have begun the year on a solid note, no doubt bolstered by the surge in new orders seen at the end of last year.
Stephen Stanley
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