John Silvia Slower Quotations

The outlook accounting for Katrina suggests growth will slow in both the third and fourth quarter due to slower consumer spending.

Job gains were clearly below expectations and trend. There may be some bounce back next month in specific sectors. Slower job gains may also reflect the impact of higher oil prices and uncertainty in the spring.

As suggested by the orders data and the ISM survey, the initial stage of inventory replenishment has not been sustained, ... Slower growth ahead remains the most likely outcome.