The small business sector is clearly slowing, but there are no signs of 'disorder' in the exiting, ... This is good news for the Fed, which expressed its pleasure by hinting at rate cuts if things slowed too quickly.
To have taken the attack personally, posting widespread reductions in expected real sales gains over the next three months.
By historical standards, that's a good rate, but we're used to 5 and 6 (percent growth) now, so it's going to feel bad. Perspective gets skewed by prosperity.
Barring a crippling auto industry strike or some other major event unforeseen in May, the latest survey readings indicate a growth rate of about 3 percent during the next six months.
The 'tone' is terrific but the dollars haven't caught up with the music.
The economy is slowing, but down to speeds previously regarded as 'too fast.'
We're going to rein it in. Caution should be the watchword.
Consumer spending seems to be holding up in the aggregate figures, but it appears that consumers are 'shaving' spending on a broad front ? still eating out but ordering the cheap entrees.
Katrina does put a wrinkle in the outlook. But the survey data indicate strong third and fourth quarters.
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