Steven Wood Largely Quotations

The spring slowdown in factory activity, due largely to an inventory adjustment cycle, is now history,

Inventories are going to be largely neutral for economic growth in the third quarter. In the fourth quarter, as businesses ramp up production to rebuild inventories, that will mean more hiring, more production and a stronger economic environment.

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.

Households are maintaining relatively optimistic assessments of economic conditions, largely in defiance of actual events.

The FOMC is smiling, as their preferred scenario is largely unfolding.

The narrowing of the budget shortfall in October is largely due to timing factors. Nevertheless, there is no apparent deterioration caused by the federal relief efforts following Hurricanes Katrina and Rita,

Wholesalers had been struggling with bulging inventories through the winter and spring, ... However, plunging sales had largely thwarted their efforts. July's improvement is a welcome respite in this struggle.

The budget outlook has improved slightly so far this fiscal year, largely during to still robust tax receipts.