(Today's data) will likely keep the Bank of Canada on track for a rate hike at next week's decision, |
[A major outbreak] would lead governments everywhere to shut down their borders, or, in effect, ground airplanes, because people would not want to travel, and that would be the end of the major trade in goods and services, at least for some period of time, ... And, given our global supply chains, there would develop shortages in many, many goods, many products, across the world very quickly. |
[And those higher costs aren't making their way into the price of finished goods,] at least not yet, ... Overall, this report shows the U.S. economy is still growing strongly and that price pressures remain a threat. |
[Even so,] While sales are slightly below their peak levels of late 1998, this sector has hardly suffered a body blow from the run-up in long-term mortgage rates, ... Until the housing sector slows significantly, it is far too premature to look for a broad-based slowing in the economy. |
[Still,] outside of the energy and food sectors, inflation was quite tame, ... This is further confirmation that the energy price increase has not filtered through to an overall increase in inflation. |
[The NAPM report] provided strong support for the economic slowdown view, focused in basic manufacturing, and also clearly suggested the peak in core inflation is drawing near, ... This gives added weight to the possibility that the Fed will ease in the new year. |
[The numbers] fit perfectly with the so-called 'New Paradigm' view -- strong productivity growth keeps inflation pressure at bay, ... This is a remarkable performance for an economy in its ninth year of expansion. |
[They are joined by large numbers of peasants whose land is indiscriminately expropriated to feed China's breakneck industrial expansion. The land grabs, which are often orchestrated by corrupt local leaders and offer little compensation, leave farmers few options.] They remind me of the deportation of the Jews out of Europe to the Warsaw ghetto, ... It's a horrible thing. |
About six months ago, there was really no concern, and I think it makes sense to be concerned. |
After a spring lull, consumers are back on track. While we do expect some cooling in the fourth quarter due to the pinch from higher energy prices, spending growth remains remarkably resilient. |
After an incredibly warm January, February's chillier temperatures only managed to cool housing activity modestly. |
All in all, the year-over-year trend in income jumped to 6.1 percent from 5.4 percent, suggesting that consumer fundamentals remain very strong, ... Consumer spending remains on a tear. |
Although the cooling U.S. housing sector is going be a major drag on consumer spending as 2006 unfolds, consumers are starting the year in an upbeat mood, buoyed by solid labor markets. As such, U.S. consumer spending could display more early-year resilience than is currently expected. |
Armed with the weaker U.S. dollar, commodity prices heading north, and a strengthening economy, rising inflation pressure is still likely to emerge as a concern for the Fed. But not yet. Not yet. |
As time passes, excess capacity is being worked off and inventories are being accumulated once again ... [and] companies don't buy enhancements in technology or machinery until after they've seen a pickup in activity, |