Although there was a slight correction in the outlook index, the results still indicate an optimistic stance on the economic condition for small businesses in the Midwest. |
Consumers continue to persevere in a difficult environment in light of high oil prices, |
Consumers continue to persevere in a difficult environment in light of high oil prices. With prior revisions and trade (data) this is going to push Q3 GDP estimates closer to 4.0 percent. |
extremely overvalued and confront a high risk of a future price correction. |
For the U.S. as a whole, I expect we're going to have an orderly correction. But that doesn't mean it's going to be equally orderly in all places. |
I think it's indisputable that demand in the housing market has declined in the past few months. It's very clear that rising interest rates figure very large in that decline. |
I think the market is responding now to a perception of the increased possibility of recession, which I do not see. |
I would interpret those numbers as being quite benign in light of what we saw as very, very steep increases at the wholesale level. Very little of that [wholesale price increase] has leaked through to the consumer price level. That's testament to the pricing pressure across America at the retail level. |
If we see economic indicators continue to weaken at the pace they have weakened in the past month, then I'm wrong. We could not only see mortgage rates continue to soften, but hold at lower levels for quite a substantial period -- maybe the first half of next year. But I don't think that's likely to happen. |
If you go back just 90 days, there were credible assertions of $100-a-barrel oil. No one is talking about that anymore. |
If you go outside of autos, manufacturing still looks quite healthy. There is a need for inventory rebuilding in addition to the strength in final demand. |
It is a little concerning. The implication here is that over-valuation is becoming more prevalent. There is no disputing that price increases are far outstripping income gains, |
It is a little concerning. The implication here is that over-valuation is becoming more prevalent. There is no disputing that price increases are far outstripping income gains. |
It reinforces a soft-landing scenario. |
It's a very solid quarter. The fundamental of the economy is extremely robust, which doesn't exclude the effects of the hurricanes. |