Joseph Abate Quotations

There has been some spotty signs of a cooling in the broader housing market.

Further improvement in earnings and additional declines in the unemployment rate is likely to boost overall confidence and keep consumption strong.

With corporate balance sheets and cash flow strong, we look for investment spending to remain strong, pushing up growth in the capital stock and adding to labor productivity growth in 2006.

The key is for us as communities to let everyone know about the benefit of the program.

The fact that households are saving so little, even with strong growth in personal income, is a potentially troubling development.

The increase in gasoline prices and the prospect of a long, expensive winter is depressing sentiment.

The increase in capacity utilization is another sign of an economy approaching full employment of resources. This keeps the Fed on high alert for inflation.

On net, we'll see some damage and a hit to corporate profits and proprietors' income, but that effect is temporary. But in the next quarter, we will get some mild stimulus from the rebuilding. Certainly, it will have no major, permanent effect on the economy.

Warm weather and a post-December rebound in new activity will likely boost construction payrolls. Retail employment should also enjoy a post-holiday boost.

Manufacturing activity in the region appears to have cooled off. We suspect it will be another month or two before auto manufacturers start ramping up production to replenish sales-depleted inventories.