Sat, 7 Dec 2013
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The underlying employment fundamentals were solid last month, but the Fed's taper timeline is still too hard to call, says Morningstar's Bob Johnson.
Despite the market hitting new highs and moderate inflation, consumer spending has remained soft, says Morningstar's Bob Johnson.
Lower unemployment claims, a convergence with ADP data trends, and milder seasonal adjustment factors could modestly boost July's BLS job data above consensus, say Morningstar's Bob Johnson and Vishnu Lekraj.
Employment improvement, cooling commodity inflation, and lower interest on debt should allow consumer spending to sustain its moderate growth trajectory, says Morningstar's Bob Johnson.
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