Steven Wood Weakness Quotations

Unless there is a quick rebound in sales, this suggests further weakness in production and declines in inventories over the months ahead.

Retail sales have slowed over the last six months in response to the slower pace of job creation, higher rates, and increased volatility in the stock market. Indeed, in the past two years there has been tight relationship between the Nasdaq and retail spending, suggesting further spending weakness in coming months.

New claims during the survey week are broadly similar to where they have been for the last two months, when payrolls fell, ... Continuing claims have been ratcheting steadily higher. Labor market weakness remains.

Some of the December strength and January weakness appears to be related to Y2K precautions; the (Federal Open Market Committee) will need a lot more evidence of a slowdown in consumer spending than this to convince them that further tightening is not warranted,

Weakness in the composite index suggests that economic growth will slow over the next three to six months.

There are a few tentative hints -- higher new orders, a drop in the inventory-to-sales ratio -- that the period of maximum weakness has likely passed. Although further declines in output are anticipated, the rate of decline should gradually diminish.

While the housing sector is slowing, almost all of its weakness will be offset by the improving factory sector, ... More interest rate hikes will be necessary to slow the economy sufficiently to alleviate the Fed's fears of building inflationary pressures.

Weakness was widespread, extending the period of pronounced weakness.

Although the level of sales is still relatively high, the solid growth of the past three years has been arrested, helping the Fed's efforts to slow the pace of economic growth. However, mortgage rates have declined over the last six weeks, so further substantial weakness may not be forthcoming.

Although housing should slow modestly over the balance of the year, it is unlikely to generate the major weakness typically associated with housing during an economic downturn.