The Joy of Soft Landings, from George Zachar
| Quarter/Quarter Activity Annual Returns | 3rd Quarter 2006 | 2nd Quarter 2006 |
| GDP | 2.2% | 2.6% |
| Goods | 3.7% | 3.6% |
| Services | 3.0% | 2.4% |
| Quarter/Quarter Annualized Prices | ||
| Market based PCE | 2.2% | 4.2% |
| PCE Price Index | 2.4% | 4.0% |
| Market PCE Core | 1.9% | 2.7% |
| PCE Core Prices | 2.2% | 2.7% |
| Year/Year | ||
| Market based PCE | 2.6% | 3.2% |
| PCE Price Index | 2.8% | 3.3% |
| Market PCE Core | 2.0% | 1.9% |
| PCE Core Prices | 2.4% | 2.2% |
Note: This moderate and modest report will no doubt be seen on Constitution Ave. as validating both the Fed’s pause and the markets’ dampened vol readings.