This is a very weak number and well below what everyone expected. It's not the kind of report the Fed likes to see, but I think they'll recognize that the economy is already rebounding and raise the federal funds target rate to 4.5 percent. |
This is in spite of gasoline rebounding 10 to 15 cents in January. This also squares with the jobless claims data. |
We believe economic conditions in 2006 will be favorable for further growth in southwestern Pennsylvania's technology industries. Rising business confidence, healthy growth in business investment spending and increasingly available venture capital will leave our region's technology industries on firmer footing in 2006. |
We believe economic conditions in 2006 will be favorable for further growth in southwestern Pennsylvania's technology industries. Rising business confidence, healthy growth in business investment spending, and increasingly available venture capital will leave our region's technology industries on firmer footing in 2006. A highly diverse technology base and the presence of world-class research institutions mean that, over the longer-term, technology will continue to play an increasingly significant role in the economy of southwest Pennsylvania. |
We're still in the first or second innings of the ballgame of replacing Greenspan, ... But it's not like the game hasn't begun. |
We're still in the first or second innings of the ballgame of replacing Greenspan. But it's not like the game hasn't begun. |
We've heard some disappointing reports about the final couple of weeks before the holidays, so we won't see as big of an increase in December, ... but when you combine November and December, this is about the best holiday season we've seen since 1999. |
What it does show is that the Federal Reserve has more work to do. |
When the economy is growing faster and businesses want to replenish inventories and make the kind of capital expenditures, mergers and acquisitions that outstrip their internal financing, then they will turn to banks. |
When you take out transportation, the report should look stronger. In total, manufacturing orders are quite strong, and that reflects a lot of capital spending going on among businesses. |
While energy prices are a major concern and price pressures are in the factory pipeline, business is still quite good. |
Will there be some turnover? Of course. |