We've been waiting for something like this for a long time. But we need to resist the temptation to put too much weight on any one month's report -- probably the best thing to do is to average out the past few months; that gives a clearer picture.

We've been talking for a long time about capital spending growth being a key component of the sustainability of this recovery. You have to be encouraged about what we've seen.

You have to look at these numbers over a few months. Coming in, we had several months of very substantial gains. The basic picture is that business spending is bottoming and showing some signs of improvement, but it's not really robust.

You have to look at these numbers over a few months. Coming in, we had several months of very substantial gains, ... The basic picture is that business spending is bottoming and showing some signs of improvement, but it's not really robust.

I think what we're seeing is a gradual decline in the jobless claim trend from its peaks in the immediate aftermath of Sept. 11, ... It suggests the labor market is not strong, but it's bottoming, and that's consistent with the overall [economic] picture.

I think what we're seeing is a gradual decline in the jobless claim trend from its peaks in the immediate aftermath of Sept. 11. It suggests the labor market is not strong, but it's bottoming, and that's consistent with the overall [economic] picture.