Steven Wood Next Quotations

Payroll employment for October will plunge sharply and unemployment will continue to rise, likely breaching 6 percent by early next year,

Weakness in the composite index suggests that economic growth will slow over the next three to six months.

We still expect economic activity to slow over the next several quarters as consumer spending slows further and housing declines more because of higher interest rates and energy costs. The absence of inflation will be welcomed at the Federal Reserve.

Unseasonably mild weather in January, coming after unseasonably severe weather in December, generated a huge increase in housing starts. Moreover, February's weather is likely to generate a big decline in housing activity next month.

With the next FOMC meeting only another week away, it is unlikely any of them will tip their hands regarding monetary policy,

The Sept. 11 terrorist attacks seem to have had little impact on the factory sector so far. However, many industries have already reported further production cuts as demand has waned. A more substantial contraction is expected next month.

The recent movements in the index suggest only moderate economic growth over the next 6 to 9 months.

Despite this gain the outlook is still for sluggish growth over the next six months,

Despite some better-than-expected data over the past two weeks, this report is sufficiently gloomy to force the Fed to ease next Tuesday and retain their bias toward further economic weakness.

Slowing income gains and increased uncertainty have savaged consumer spending. This has removed the only major support for the economy, insuring the recession will last, at least, into early next year.

Home sales should weaken over the next several months.

Housing activity, which has contributed significantly to economic growth over the past 2-1/2 years, has now passed its peak and will be largely neutral to negative over the next several quarters, ... This slowdown will be welcomed at the Federal Reserve.

Housing fundamentals are deteriorating, ... Mortgage rates have been flat since the beginning of the year. Job creation and income growth has slowed. Equity markets have plunged over the past year. And consumer confidence has tumbled. Moreover, mortgage applications have trailed off. All of these suggest that home sales should weaken over the next several months.

Housing fundamentals are deteriorating. Mortgage rates have been flat since the beginning of the year. Job creation and income growth has slowed. Equity markets have plunged over the past year. And consumer confidence has tumbled. Moreover, mortgage applications have trailed off. All of these suggest that home sales should weaken over the next several months.

Housing-related activity has definitely slowed and its contributions to economic growth, both direct and indirect, will fade over the next couple of quarters.

The general slowing in the growth of the leading indicators over the past year suggests the pace of economic growth should gradually slow over the next three to six to nine months.

The FOMC (Federal Open Market Committee, the Fed's policy-making arm) will look at these data as being benign, ... No change in interest rates is expected at next week's meeting although the committee will retain its bias toward tightening.