Quotes by Nigel Gault

“The reason (recession) gets mentioned . . . is that (energy price) movements of this sort of magnitude usually would be associated with recession. So you do have to start asking the question, ... The question needs to be asked, even if we think things are different on this occasion.”

“Our equation says the economy ought to be good enough for Bush to win the election,”

“Companies have reached the limits of what they can do with their work forces. They have to hire more workers.”

“The goods and services deficit will continue to widen, especially since after Katrina the United States will be importing more energy products at higher prices.”

“We believe the numbers today are confirming our view that growth will be soft throughout the rest of the year.”

“Of course, we dont know whether the price is going to stay at $3. But the longer prices stay at this level, the harder it is to believe that consumers will just carry on doing what they were doing.”

“Within a few months, the deficit will be widening to new records.”

“U.S. consumers have been increasing their spending much faster than their incomes.”

“Energy prices were rising before Katrina hit, and while those costs didnt make their way through to finished goods in August, we have to expect higher core inflation in coming months. Firms are saying that theyve absorbed so much already that they have to pass on these costs.”

“The bottom line is that the job market carried good momentum and the economy can weather the temporary hit from the hurricanes.”