Michael Niemira Quotes


We did see a boost from gas prices, we're also coming off a big surge in building materials. So there were some big swings in some components of the report. But broadly, even excluding the volatile cars component, the gain was 0.7 percent, which is still quite healthy. - Michael Niemira



Wal-Mart is not a bellwether for the broader industry this season. The action isn't among their customers. - Michael Niemira



Until July, income growth has outpaced the added dollars spent on gas. But gas prices have risen much faster in August. Income growth still has to outpace the increase in gas prices to at least offset the negative effective on consumers. - Michael Niemira



Underlying demand continues to remain moderate with pockets of strength. The forces are looking better as you go to June and beyond. Maybe this is the last of the weaker reports before we start to see more strength. - Michael Niemira