Ken Goldstein Might Quotations

Nothing is going to happen in terms of improving confidence until something happens in terms of an improving labor market, and that might well take until after New Year's.

We might still be seeing some small declines in manufacturing overall, but even that's a mix. This year you'll see more hiring in nondurable manufacturing sectors such as in chemicals, in rubber, in plastics, in paper.

There was cautious optimism a month ago that manufacturing declines might have been bottoming out, ... Now, in the wake of the attacks, economic demand seems likely to slow.

The balance will eventually change, but these numbers suggest the caution businesses have been showing is warranted. They also say we might be waiting until early 2004 before we see much stronger business investment.

We might be out of recession already. The recovery could be more vigorous than earlier anticipated.

With slower hiring, and indications that hiring might remain soft in the months ahead, the economy could struggle, setting up a self-fulfilling prophecy.