Stephen Stanley Numbers Quotations

We've had this pattern of strong month, weak month lately. May numbers were weaker and the expectation is for June numbers to be stronger.

Consumer spending numbers continue to be very good and manufacturing continues to surprise to the upside, which all suggests the economy has a lot of momentum right now.

The numbers were considerably more moderate than we and others had expected. We have gotten back to pre-hurricane numbers. (But), I don't view this as the beginning of a sustained downturn.

The jobs numbers were definitely on the soft side, and so stocks are down.

The economy is clearly strong right now, and that's what these numbers reflect. In the short term, there's a risk people will pull back on spending, but that depends on how long gas prices stay high, and so far there's not much evidence the consumer is slowing down.

The 'economy is weakening' crew will have a field day with this report. But until we see two weak numbers in a row, I am absolutely unconvinced. . . . Disappointed? Definitely. Changing our big picture view? No.