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To: Mohan Marette who wrote (54895)7/29/1998 8:50:00 AM
From: Lee  Read Replies (2) | Respond to of 176387
 
Morning Mohan,..***Off Topic***

Re: Economic forecast by Economist Dr. Irvin Kellner

Mohan, if you look at the GDP growth shown on the attached chart and then look at the swings in inventory on the second chart, then you can see that the negative swings haven't much affected the steady growth.

dismal.com
3 yrs
dismal.com
Business INventories
dismal.com
analysis - inventories

Also, according to James Padinha of TSC fame, consumption accounts for 68% of GDP and from what we've seen the consumer is still buying.

From the eco data today, durable goods orders, ex transportation, I believe they were up - census.gov

Regards,

Lee

BTW - the number to worry about this week is ECI since that is one of Alan's favorite and since he's repeatedly stated his concern regarding the tight labor market.