Patrick Fearon Sector Quotations

We still think that the growth rate will slow substantially in the fourth quarter, in part because the housing sector is softening which will tend to soften consumer spending as well. That is one factor that will probably help the Federal Reserve eventually conclude its monetary tightening cycle.

This shows some strength in the consumer sector at the end of the year.

The service sector of the economy is still growing at a good pace and that is consistent with what we were seeing in the employment report for November.

The ISM manufacturing index came in at a decent level in January, just slightly below expectations, but still high enough to suggest that the manufacturing sector is expanding at a steady-as-she-goes pace.

The ISM index shows that the service side of the economy continues to grow well and that's important because that sector makes up the large majority of the economy.

The housing starts figure coming in down 5.6 percent was weaker than expected and seems consistent with our thesis that the housing sector is moderating. The big decline in housing permits reinforces that idea.