We continue to believe that the underlying drivers of productivity growth are turning less favorable,
We do believe that the U.S. housing market is a bubble in the sense that its contribution to consumer spending is unsustainable. Households have used a large share of the recent home equity gains to supplement their spending. When these gains dry up, as they ultimately must, spending is likely to weaken substantially.
We will likely see some 'payback' for the blockbuster April report, which probably exaggerates the underlying job trend. (The latest) ISM index confirms that manufacturing employment has firmly entered contraction territory.
What matters for our well-being is the net output -- remember, depreciation charges are not available for consumption -- per person in the overall economy, not the gross output per hour worked in the non-farm business sector alone,
What they're going to be aiming for is to leave open the question of whether they hike on March 28.
What will be nice, though it's unimaginable right now, is to start forecasting when they might be able to cut rates.
While the official productivity data look impressive, alternative measures that are equally reasonable show a much more subdued picture.
You've got seven quarters in which the homeownership rate basically has done nothing. It's fair to say that it's stagnating.
Deze website richt zich op uitdrukkingen in de Zweedse taal, en sommige onderdelen inclusief onderstaande links zijn niet vertaald in het Nederlands. Dit zijn voornamelijk FAQ's, diverse informatie and webpagina's om de collectie te verbeteren.
Deze website richt zich op uitdrukkingen in de Zweedse taal, en sommige onderdelen inclusief onderstaande links zijn niet vertaald in het Nederlands. Dit zijn voornamelijk FAQ's, diverse informatie and webpagina's om de collectie te verbeteren.