Warm weather and consumers' willingness to spend every penny they have led to a huge increase in retail sales. Households may be tapped out and dipping into savings and wealth, but that still hasn't slowed them down one bit. |
We are starting to get early estimates of the impacts of Katrina and they are ugly. |
We had a pretty good year this year. If we look out and ask, 'Can we sustain the gains that we made?' I think the answer is, more likely, yes. If we do as well in 2006 as we did in 2005, we should be very pleased. |
We have seen a change in the texture of the economic data. A month ago, the reports were not clear-cut, as some were good [and] some were weak. Recently, the pattern has been for a surprise in the numbers on the upside. The [Fed] is seeing the same trend in the data, and it would be a shock if they did anything but stand pat. |
We need more jobs. It is accurate to say that job growth has returned, but it is not at an acceptable level, ... We need over 200,000 a month to feel good about the sustainability of the expansion. That may be coming, but it is not here yet. |
We need to get [the Iraq] issue behind us before the economy can start hitting its stride. |
We saw a slowdown in business investing and while it may be a little more than we will see going forward, it's real and it will likely continue. |
We saw decent exports here. The weak dollar is beginning to have its effect. I think that will continue to happen, although I really don't expect the trade deficit to narrow until the end of this year if at all. |
We shopped the world's markets until we dropped. We bought a lot more of everything, including capital and consumer goods, foods and motor vehicles. |
We shopped the world's markets until we dropped. We bought a lot more of everything. |
We should be seeing better job reports in the next few months, and that could start on Friday, |
We still are looking at sluggish fourth quarter for consumption that should restrain GDP growth sharply. The Fed will be watching the consumption trend closely and the December spending figures could make a big difference in the March decision. |
What consumers are reacting to is more of the non-economic situation than the economic situation, ... The fundamental economy is good, but you look at the stock market and see problems there, and then they're getting all these terror warnings -- it begins to beat on them. |
What he's saying is not necessarily in opposition to the idea that the labor market may be stabilizing, but he's raising a warning flag, ... If we don't see layoffs get any worse, then they're actually getting a lot better -- that's critical information. |
What it seems to be indicating is that a kind of moderation in the state's economy that we saw in the middle of last year is continuing. When you put these things together we're not seeing a whole lot of job growth. |