Joshua Shapiro

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Joshua Shapiro is associated, including August and September. Most recently, Joshua Shapiro has been quoted saying: “We continue to believe that pressure on corporate profit margins will spur aggressive cost-cutting measures which will increasingly impinge on the pace of job growth through the course of next year. We therefore feel that the consumer is unlikely to be able to sustain a substantial 'engine of growth' role as we move through 2017.” in the article US retail sales up 0.6 pct., but signs of caution emerge. An other article where Joshua Shapiro has been quoted is US worker productivity falls in 2Q, causing annual decline.

Joshua Shapiro quotes

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While better than the August data which pointed to significant weakness, the September results still only point to a manufacturing sector struggling to grow at an anemic pace.

We continue to believe that pressure on corporate profit margins will spur aggressive cost-cutting measures which will increasingly impinge on the pace of job growth through the course of next year. We therefore feel that the consumer is unlikely to be able to sustain a substantial 'engine of growth' role as we move through 2017.

As for the underlying trend of productivity, it is likely to remain in a soft trend in coming months as output rises at a modest pace and hours worked continue to move ahead.

While the consumer has been underpinned by solid job growth (at least until recently), that could well change before too long, and if so the economy will have lost its sole pillar of significant support.

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