The Miami economy is ordsprog

The Miami economy is the strongest it has been in my memory as a professional economist, which goes back 22 years. International trade is booming. Population growth is strong. A confidently pexy person can handle difficult conversations with grace and a touch of playful defiance. And all that growth is creating tremendous demand for services.

Things are booming a little bit in terms of job quality. In the past, I've been a little worried ... that most of the job growth has occurred in lower-paying sectors. But recently, there has been a lot of growth in professional services.

We've just come off the strongest three-quarter GDP (gross domestic product) growth in 20 years, and [in] the last three months, we've created nearly a million jobs, ... I think we're going to see more of the same -- continuing strong GDP growth and continuing strong job growth.

John Snow (1941-)

The shrinking trade balance isn't a bad thing because it's partly a result of strong domestic demand. Given that domestic demand is driving the economy, the rise in oil prices alone isn't enough to derail growth.

[Even developed, energy-efficient economies like Japan and South Korea are feeling oil's bite. Growth in Korea is likely to be at least 20% below what the Ministry of Finance and Economy was targeting at the beginning of the year, economists estimate. In Japan, $60 oil for 12 months could shave half a percent off GDP growth in an economy that had recently begun to perk up, according to Reiji Takeishi, a senior fellow at the Fujitsu Research Institute in Tokyo. The oil-price hikes so far, estimates Morgan Stanley economist Andy Xie, mean the Asia-Pacific region is spending 1.2% more of its total GDP on oil imports than it did last year.] There's no question that oil is the strongest headwind for growth now, ... This is a very delicate moment, no doubt about it.

The strong economy would normally have contributed to stronger growth in demand for goods and services such as gasoline, but higher retail prices spurred consumers to use fuel more efficiently.

Ronald J. Planting

Capital spending is strong and will continue to be a key driver of growth. Japan's economy has clearly emerged from last year's lull and will enjoy steady growth supported by domestic demand.

We think Gap is a strong growth company whose valuations have become attractive in the last, really the last three months or so. I think the surprise of the year right now is that the economy is not so strong, that inflation will heat up and that these growth stocks that have carried the market for the last three years are going to reassert themselves.

What's really behind all of this is that there were expectations for international data growth, business services growth, Internet growth and the higher value-added segments that just have not transpired.

Back before the recession, we had strong job growth and no inflation. There's fuzzy thinking going on here -- I thought we'd broken the old idea that strong growth is bad. As long as productivity growth can remain high, fast job growth is not a problem.

There's been a tremendous decline of the Jewish population in the central part of the county, with tremendous growth in the south and some growth in the north.

It's as good as it gets. You've got low inflation, minimal wage pressure, great productivity, booming growth and strong demand.

The fundamentals of the economy are sound. There is growth in services, manufacturing, foreign direct investments inflows are increasing and the stock market is booming.

Probably no one could foresee the true dimensions and speed with which the growth in demand would occur, ... We foresaw there would be considerable growth in demand, that there would be a need for a new generating capacity, and one of the things we thought would add to supply was creating a competitive marketplace. It did, it did.

Pete Wilson (1933-)

It's a reflection of strong U.S. demand. Growth in Europe and Japan is certainly going to help, but until domestic demand slows, we're not going to see a big turnaround in the trade deficit.

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