Among manufacturers some have been relying on a strong housing market. It is appropriate to be concerned that housing will not be as strong in the quarters ahead as it was through much of 2005.
The momentum is there, but it's sporadic. There is no doubt that investment spending continues to move higher.
Buying plans still remain robust.
There are still some supply disruptions related to the hurricanes, but it looks like there is a dent being made in alleviating these supply disruptions.
If one were looking for additional weakness in the economy, it's not going to come from housing. We are seeing the economy generate a fair amount of momentum.
We are seeing good income growth and consistently good job growth, so the consumer remains in relatively solid shape. The economy is currently experiencing a nice, steady, solid momentum, the kind that can continue for an extended period.
The green light is there for the Fed to continue to raising rates. No doubt about it. The Fed may go again in May unless the economy slows.
Furniture manufacturers will clearly be nervous with the potential (of) slowing in the housing sector.
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