Ralph Kauffman Quotations

Many members' comments expressed concern about the continuing rise in oil and gas prices.

I would characterize the report as steady, not too different from last month.

I think it indicates that the economy seems to be growing at probably the same rate in March as it was in February.

Overall the report indicates that the non-manufacturing sector is moving right along. We seem to have recovered from the hurricanes, even though the index is down slightly.

Respondents also commented on hurricanes Katrina and Rita and their impact on the energy supply and on the availability and cost of construction materials and truck transportation. The overall indication is continued economic growth in the non-manufacturing sector in October, but with a high level of concern about the impact of energy prices,

Price increases have again become a significant area of concern for many members as a result of recent fuel price increases.

Our members seem to have digested the energy price increases, and so the direct effect of energy price moves is less.

The pressure on prices may be relieved a little bit, but not a whole lot.

The overall indication in January is continued economic growth in the non-manufacturing sector, but at slower rates of increase.

The overall indication in December is continued economic growth in the non-manufacturing sector with a cautiously optimistic outlook as we enter 2006.

This second month of non-manufacturing growth, at a higher rate of growth than in November, appears to indicate that November's growth was not entirely due to a rebound from October's low point following the events of Sept. 11,

Even though the index has been going down, prices are at pretty high levels. It appears that the recent drop-off in oil prices in particular is probably behind the drop this month, but the list of commodities that are up in price is a pretty long list and it's pretty broad.

Concern about the continued high level of energy prices and its impact on economic activity is again the number one topic on which survey respondents commented.

The service economy is still growing at a reasonable rate, but at least in January it wasn't accelerating. The rate of growth slowed down some.

Companies are willing to hire more people because they have confidence that at least in the near future, business will be strong.

It's in the high end of the range definitely on the prices paid, ... (Our members are) blaming it all on the cost of oil running up.

The main reason for the decline in the price index in December was the decline in energy prices -- while the index is down, it's still at a historically high level.