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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Lee who wrote (3078)	5/8/2001 10:36:42 AM
From: Robert Douglas	Read Replies (1) \| Respond to of 3536

Hi Lee, Anyone else around? I was just wondering what people thought of the productivity release this morning? With productivity now faltering as business slows, it won't be long until profits suffer from high unit labor costs. Then, the inevitable cutting of payrolls to boost productivity and restore profits will occur. Probably this process has already begun. Will it go a step further? Will consumers cut back and send another wave of slowing through the economy? The report that consumer borrowing slowed in March to its slowest rate in 18 months gives us another indication that this may be happening. It seems that every week the odds of recession increase. Anyone see it differently?