Business spending is the Achilles heel of the economy, ... The economic baton needs to pass from consumers to businesses.
More Quotes from Sung Sohn:Had this report showed another plunge in confidence, then I think it would have been a sure bet to expect another cut sometime in April,
If prices remain where they are, and the rest of the economy performs well, that won't be the end of the world,
We knew the data collected after the attack was going to be weak, but I was a little dumbfounded by the fact that the numbers even before the attack were awfully weak, ... Even before the attack, the economy seems to have relapsed into the doldrums.
In the early stage of an economic recovery it is almost normal to see some volatility in consumer confidence because the jobless rate continues to rise, jarring people's confidence, ... However, all the pieces are in place to generate recovery, including healthy spending, robust housing and record low business inventories.
A slight decline should not change the picture that much, ... If you look at the fundamentals, despite all the negative news, consumers are in pretty good shape. The jobless rate is pretty low, and their net worth is going up because house prices going up
The productivity gains have been stunning.
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