Ian Shepherdson Quotes

The January revision is mostly due to the plunge in aircraft orders reported in the durable-goods numbers. In February, the index was pulled down by lower consumer confidence, higher jobless claims, shorter delivery times and lower building permits.

- Ian Shepherdson

Tags

January | Revision | Plunge | Aircraft | Orders |

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Our view is that home sales will slide through the summer, dragging housing starts down into the fall. But this is still no more than a forecast; mortgage applications are still very strong. - Ian Shepherdson

After 9/11, the index made up all the ground lost, and more, by January '02... This seems as good a guide as any now, though in the meantime we expect a couple of very rough months for consumers' spending. - Ian Shepherdson

The renewed strength in home sales reflects lower mortgage rates; we expect rates to dip to a 14-month low this week. The housing rebound will ensure construction sector strength in the first quarter of 2001. No recession here. - Ian Shepherdson