Steven Wood Trend Quotations

There is a clear improving trend in orders which provides support for the recovering manufacturing sector, ... Although some of the inventory building that occurred was likely Y2K related and will be reversed in the new year, the acceleration of both shipments and backlogs suggests that the manufacturing recovery has substantial staying power.

The gentle slowing trend that had been in place for much of 2005 appears to have been halted and partially reversed. However, like many other economic relationships, the one between the index of leading indicators and subsequent economic growth has loosened significantly in recent years.

This month's modest gain indicates that the sharp rebound from the post-Hurricane Katrina meltdown has been completed. The gentle slowing trend that had been in place for much of 2005 may have been halted, but it is too soon to tell with any confidence.

The leading indicators have been much more volatile since Hurricane Katrina. However, the trend has been generally flat over the past six months, at levels that are well below where they were 12 to 18 months ago.