Anthony Chan Recess Quotations

Certainly, we see some encouragement. We see an economy that's still weak... but not falling off the cliff. The notion that we're not going to have a recession is confirmed by these numbers.

The number tells me a recession is coming, but it will be relatively mild in the wake of all the stimulus coming. But I would caution investors not to be so complacent as to think this could be bottom. It's going to be a lot uglier in the fourth quarter.

Saying that higher oil prices have not increased the risk of recession or serious economic slowdown is clearly not the same thing as saying that they have not had an impact.

If the manufacturing sector remains mired in a recession mode for too long, it may be signaling the same for the rest of the economy. Although it may be a bit too early to make that assessment, there should be universal agreement that the ISM outcome certainly does not bode well for the rest of the economy.

We'll start seeing solid and significant evidence of recovery in the manufacturing sector in the first quarter next year. It was the first to go into recession and will be the first to come out.

You typically see, from the trough of a recession to the time when the recession ends, a 1.3-percent gain in payrolls, ... From when the recession likely ended, in December of last year, we've had 0.004 percent gain, instead of that 1.3 percent gain. There's a pent-up demand for labor, given such a jobless recovery.

That report certainly reveals the recession is not over. The gains we had in September are not sustainable and illustrate why the central bank has to continue to lower rates. At this juncture, the easing of rates basically is serving as a consumer confidence booster.