This gain in proprietors' income is small-business job creation, we think, and it's more useful at this point in the business cycle than it would otherwise be,
More Quotes from Steven Wieting:
While we don't take monthly changes in employment too seriously, today's data were slightly stronger than expected on hiring, but slightly weaker on hours and utilization, thus providing a 'growth positive' outlook.Steven Wieting
Seeing a two-year low in confidence in the wake of Hurricane Katrina isn't that surprising. The news in the month of September has been terrible. The television coverage and the emotional impact of the story has a big effect on confidence in the short run. But spending has been inconsistent with these confidence numbers.
Steven Wieting
Consumption is growing, government outlays are growing and the third quarter will look very strong. But going forward, business spending is flat and decisions are being deferred. That can keep us weak for the near term -- neither contracting nor expanding.
Steven Wieting
It's very unlikely for Fed to worry about month to month data changes, or even two months, as the markets do.
Steven Wieting
Exports were flat for a second month running and that has been what is most broken in the trade picture.
Steven Wieting
Business conditions are really slack. The latest rally in stocks doesn't change that.
Steven Wieting
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Based on Topics: Business & Commerce QuotesBased on Keywords: small-business
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