FXStreet (Bali) – According to BMO Economists, the surprisngly low US NFP numbers last Friday, will raise questions about whether the economy can continue to grow fast.
Key Quotes
“The surprisingly sharp downshift in job growth in the past two months, along with still low wage growth, will weigh heavily toward keeping the Fed on the sidelines at the October 27/28 meeting.”
“While consumer spending has come roaring back, the weakness in manufacturing suggests the economy isn’t firing on all cylinders, largely because the mighty dollar and sluggish global demand are undercutting net exports.”
“Moreover, the slowing in service-sector job growth, which should have been little affected by the weakness in exports, is puzzling. This will raise questions about whether the economy can continue to grow” fast.”
(Market News Provided by FXstreet)