Despite this gain the outlook is still for sluggish growth over the next six months,
More Quotes from Steven Wood:
Some of the December strength and January weakness appears to be related to Y2K precautions the (Federal Open Market Committee) will need a lot more evidence of a slowdown in consumer spending than this to convince them that further tightening is not warranted,Steven Wood
Although productivity is not likely to return to the supercharged pace of last year, it is likely to settle in comfortably above the 1.5 percent average pace during the 20 years before 1995,
Steven Wood
The recent pace of growth in the leaders suggests that economic growth should slow from its 3.6 percent over the four quarters through the third quarter of 2005.
Steven Wood
Momentum in the leading indicators has slowed over the past year, suggesting an impending slowdown in economic growth.
Steven Wood
New and continuing claims are at levels that historically have been associated with payroll employment gains of around 225,000. Labor markets are gradually improving.
Steven Wood
The numbers are clearly good news for the Fed, ... Strong productivity numbers raise the economy's speed limit and dampen inflationary pressures, lessening the magnitude of the rate increases that the Fed would have to implement. The key question, however, is what level of productivity growth is reasonable to assume for the future.
Steven Wood
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