Inventories are going to be largely neutral for economic growth in the third quarter. In the fourth quarter, as businesses ramp up production to rebuild inventories, that will mean more hiring, more production and a stronger economic environment.
More Quotes from Steven Wood:
These data are broadly consistent with payroll employment gains in the 200,000 to 250,000 (monthly) range.Steven Wood
Industrial activity is contracting across a broad set of industries, reflecting the declines in both consumer and business spending.
Steven Wood
Higher interest rates have been weathered by home buyers through the use of adept home financing techniques. Nevertheless, the resilience in the housing sector will support further monetary tightening by the Fed.
Steven Wood
Housing-related activity has definitely slowed and its contributions to economic growth, both direct and indirect, will fade over the next couple of quarters.
Steven Wood
The data are consistent with a sharp adjustment in manufacturing activity in response to slowing demand, ... With inventories relatively high and new orders weak, factory activity is likely to remain weak.
Steven Wood
Graham Machinery Groups goal is really not to have the infrastructure to support every small little company in the world, but to have more strategic relationships of value, with responsible growth.
Steven Wood
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