The No. 1 reason new orders and production are falling is that inventories have risen in recent months as consumer spending has slowed. Such a buildup was acceptable when economic growth was accelerating. Now that growth is cooling off, businesses will need to curb stockpiles.
More Quotes from Mark Vitner:
We haven't seen that much improvement in employment of hourly workers because the job market for lower-skill workers still has a lot of slack in it. But if you look at skilled workers, it's a much different picture. We're starting to see some real shortages in some sectors.Mark Vitner
The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point.
Mark Vitner
The unemployment rate is likely to hang around 4.5 percent and finish the year somewhere near 4 percent. That would mean that North Carolina would be back in the familiar position of having an unemployment rate below that of the nation.
Mark Vitner
The populations in Louisiana and Mississippi are incredibly poor. Most of the damage was from flooding, which doesn't tend to be covered by insurance. That combination adds up to an incredibly long and painful rebuilding process I think five to 10 years.
Mark Vitner
I truly believe that they would like to stop at 5 percent, but if we get a really strong number (for economic growth) in the first quarter it may be hard to do that.
Mark Vitner
I think it's going to be a bad month for retailers. The news was so horrific coming out of New Orleans that it made people not feel like going out to dinner.
Mark Vitner
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Matt Groening
The radios are going to dictate. That's another fight. That's another story there. I wish they just let it be.
Bernie Worrell
We go in there and we work on altering those ideas and in many cases go in different directions.
Les Paul