This is a fairly big negative, correlated to other unfortunate news, like weak financial markets, which have their own impact, ... So far it still looks like the economy is growing, but below trend.
More Quotes from Steven Wieting:
We had unintentional inventory declines in the second and third quarters, which is what you would typically get in a recession. I think companies will need to build 50 billion per quarter in inventories, even if the demand growth rate is just 3.5 percent.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
We're not expecting an entirely clean read for the durable goods report. The business confidence data began to bottom at the end of June and that's encouraging. We probably will see modest gains in consumer activity and eventually the business cycle will catch up to that. But so far, everything right now is pointing to frustrating moderate economic growth for the time being,
Steven Wieting
Freeing up less productive resources by accomplishing more with less is the entire basis for rising living standards. It shouldn't come as a surprise that stronger periods of economic growth have generally begun during periods of high unemployment, not low unemployment.
Steven Wieting
While the U.S. economy is still transitioning, and will for some time, data that should be supporting confidence in the recovery have not worked to ease investor concerns. We have to wonder if markets won't derail an otherwise quite healthy recovery in much of the core of the U.S. economy.
Steven Wieting
Estimates have to come down, ... We're in for an ugly preannouncement season.
Steven Wieting
Readers Who Like This Quotation Also Like:
Based on Topics: Media & News QuotesBased on Keywords: correlated
I have been playing a lot of keyboards, especially in the last five or six years. I suppose it gives you more scope than the guitar, although it does tend to make you write a different way.
Mick Ralphs
Don't drink in the hotel bar, that's where I do my drinking.
Casey Stengel
Solitude vivifies; isolation kills.
Joseph Roux