Ian Shepherdson Quotes

Companies are doing more, with fewer people.

- Ian Shepherdson

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There's no question that these numbers have been persistently disappointing in recent weeks... It's not that layoffs are accelerating again -- we think the underlying trend [of claims] is stable at about 390,000 -- it is that we expected clearer signs of an outright decline [in the number of claims]. - Ian Shepherdson

The details are close to our expectations, though consumers' spending, up 5.5%, was a bit stronger than we expected. Overall, solid domestic final demand, but the second quarter will be much weaker. - Ian Shepherdson

[The switch is] presumably to squash speculation that they are embarking on a new sequence of rate cuts... This is sensible -- they can always change their mind if they have to, but in the near term it will quiet the markets. It is also consistent with their medium-term view that the economy will indeed recover in the not-too-distant future. - Ian Shepherdson