Consumer optimism climbed higher in December after soaring in November. This followed huge back-to-back declines in the aftermath of Hurricanes Katrina and Rita and the associated surge in energy prices.
More Quotes from Steven Wood:
Because of the dramatic shift in job advertising market share from newspapers to the Internet, the help-wanted index has lost much of its luster.Steven Wood
Industrial activity is contracting across a broad set of industries, reflecting the declines in both consumer and business spending.
Steven Wood
There is clear and strong evidence that the factory sector is expanding solidly,
Steven Wood
While the auto sector appears to have corrected its inventory overhang, other sectors have not been nearly as successful, particularly high tech, ... As business sales slow, it will be even more difficult to bring inventories into line.
Steven Wood
Greenspan seems to be a little more sanguine about inflation today than he was on Tuesday. Since there is no red flag of an early tightening by the Fed, it's almost a relief trade.
Steven Wood
The January gain in construction spending was surprisingly weak given the recent strength in housing starts and unseasonably warm weather.
Steven Wood
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