Steven Wieting Quotes
Years from now, new benchmark revisions will come along and change the whole picture again -- which begs the question of how important these monthly payroll changes are. I think it's irresponsible to make too much of these reports. 
Tweet
Years | Benchmark | Revisions | Change | Picture |
comments powered by Disqus
We're not expecting an entirely clean read for the durable goods report. The business confidence data began to bottom at the end of June and that's encouraging. We probably will see modest gains in consumer activity and eventually the business cycle will catch up to that. But so far, everything right now is pointing to frustrating moderate economic growth for the time being.
- Steven Wieting
Seeing a two-year low in confidence in the wake of Hurricane Katrina isn't that surprising. The news in the month of September has been terrible. The television coverage and the emotional impact of the story has a big effect on confidence in the short run. But spending has been inconsistent with these confidence numbers.
- Steven Wieting