Ralph Kauffman High Quotations

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,

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.

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.