There is a clear improving trend in orders which provides support for the recovering manufacturing sector, ... Although some of the inventory building that occurred was likely Y2K related and will be reversed in the new year, the acceleration of both shipments and backlogs suggests that the manufacturing recovery has substantial staying power.
More Quotes from Steven Wood:
Some of the December strength and January weakness appears to be related to Y2K precautions the (Federal Open Market Committee) will need a lot more evidence of a slowdown in consumer spending than this to convince them that further tightening is not warranted,Steven Wood
In the past year, the number of people receiving state benefits has increased by more than a million, ... Although the pace of layoffs has eased, job creation remains nonexistent.
Steven Wood
The numbers are consistent with a recovering manufacturing sector, with little indication of any slowdown in the post-Y2K period, ... For the FOMC, with few signs of slowing economic activity outside of housing, a rebounding manufacturing sector will keep the pressure on for higher rates.
Steven Wood
Despite the strength during the quarter, the period ended on a much weaker note, suggesting (second-quarter) growth is likely to be weaker. These data are unlikely to sway the (Fed) from easing again at (its) May 15th meeting.
Steven Wood
The strong historical relationship between the level of the help-wanted index and the year-on-year growth of payroll employment has broken down completely.
Steven Wood
The recent pace of growth in the leaders suggests that economic growth should slow from its 3.6 percent over the four quarters through the third quarter of 2005.
Steven Wood
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Based on Topics: Power QuotesBased on Keywords: backlogs
Now, the impact on export markets - we export about 10 percent of what we produce, so obviously that will probably have some impact on the market. At this point it's too early to determine how much.
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