We caution investors; one month of stellar job creation does not a trend make. And since the entire Street has diminished economic growth projections for 2005, we have to stick to our guns of slower, not stronger, job creation in coming months.
We already knew that economic growth in the fourth quarter was depressed. The pace of economic growth in the first quarter may be three times as fast, generating a lot of momentum as we head into the summer.
By any measure, third-quarter economic growth was quite impressive. It would be even more impressive if it could be sustained in the fourth quarter, but we're almost certain to lose some momentum.
It's not really that shocking; we kind of expected it, ... As the economy begins to moderate, we'll get these sporadic spurts of growth -- like an engine running out of gas. We suspect the trend will remain moderation.
It's not really that shocking; we kind of expected it. As the economy begins to moderate, we'll get these sporadic spurts of growth -- like an engine running out of gas. We suspect the trend will remain moderation.