Michael Englund Economy Quotations

Overall, the damage from the hurricane on the economy is limited, and by November and December we will start seeing the positive effect on production from rebuilding.

Though inherent volatility in the monthly jobs report may lead to a January dud, all signs suggest that the risk is for a whopper that would solidify the view that the economy remains solid.

This data will tell us little about the economy going forward,

Consumers are always concerned about the economy but the key is whether they are predisposed to increasing caution when it comes to spending. I think today's report demonstrates that the hurricanes had an ambiguous affect on spending.

The net effect on the economy is always positive. We have more consumers of energy than producers and the result is that the sector that benefits from low inflation and low interest rates comes out ahead.

In general, the economy is proving to be resilient to energy and gas price pressure. It's on a growth path. Even though oil prices are higher, the fundamentals of the economy are strong. Therefore, we see consumers' savings rate falling and spending up.

The economy will likely continue to prove surprisingly resilient to rising oil prices.