Steven Wood Improving Quotations

There is a clear improving trend in orders which provides support for the recovering manufacturing sector, ... Although some of the inventory building that occurred was likely Y2K related and will be reversed in the new year, the acceleration of both shipments and backlogs suggests that the manufacturing recovery has substantial staying power.

With still strong domestic demand and improving international demand, the factory sector is continuing to recover from the sluggishness that resulted from the Asian economic crisis.

While the housing sector is slowing, almost all of its weakness will be offset by the improving factory sector, ... More interest rate hikes will be necessary to slow the economy sufficiently to alleviate the Fed's fears of building inflationary pressures.

These data are consistent with still-strong domestic and improving international economic activity.

Despite improving international economies, the strong dollar is limiting the expected rebound in exports.

Although higher interest rates appear to have begun to have a negative impact on housing activity and consumer spending, sturdy domestic demand and improving international economies have generated an acceleration in manufacturing activity.