These data are consistent with slightly better pricing power for both importers and exporters, which reflects the improvement in international economic activity, ... However, the gains are sufficiently restrained as to not cause any concerns about broader based measures of inflation.
More Quotes from Steven Wood:
New and continuing claims are at levels that historically have been associated with payroll employment gains of around 225,000. Labor markets are gradually improving.Steven Wood
Although the level of sales is still relatively high, the solid growth of the past three years has been arrested, helping the Fed's efforts to slow the pace of economic growth, ... However, mortgage rates have declined over the last six weeks, so further substantial weakness may not be forthcoming.
Steven Wood
Industrial activity is contracting across a broad set of industries, reflecting the declines in both consumer and business spending.
Steven Wood
Housing fundamentals are deteriorating. Mortgage rates have been flat since the beginning of the year. Job creation and income growth has slowed. Equity markets have plunged over the past year. And consumer confidence has tumbled. Moreover, mortgage applications have trailed off. All of these suggest that home sales should weaken over the next several months.
Steven Wood
Although inventory rebalancing is well underway, weak sales and elevated inventory-to-sales ratios will keep downward pressure on industrial production and manufacturing employment, ... This situation is unlikely to improve until spending accelerates.
Steven Wood
The Fed will welcome this report as it suggests that slower economic growth will be extended into the third quarter. The probability of an August rate increase continues to diminish and is now below 50 percent.
Steven Wood
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Based on Keywords: exporters, importersThere are no galley-slaves in the royal vessel of divine love - every man works his oar voluntarily!
Saint Francis de Sales
It was one of those evenings when men feel that truth, goodness and beauty are one. In the morning, when they commit their discovery to paper, when others read it written there, it looks wholly ridiculous.
Aldous Huxley
There is no lie that a man will not believe; and there is no man who does not believe many lies; and there is no man who believes only lies.
John Sterling