Some economists interpreted lower oil prices and a cooling housing market as signs of more-stable growth rather than a slump.

The monthly survey showed a modest improvement in new orders, but many economists interpreted the report as a sign that the economy remained sluggish.

But some economists interpret the low inflation numbers as a mixed message.

This not only affects the definition of the measures, but also how economists interpret capital formation.

Thus the economists interpreted both reports as evidence that the economy was likely to start the new year on a sour note.

Some economists interpreted the surge as a sign that plenty of money was available for business.

Private economists interpreted the report, prepared with contributions from each of the 12 regional Fed banks, as another sign that the central bank is likely to raise interest rates again soon.

Some economists interpret Smith's opposition to taxes on transfers of money, such as the Stamp Act, as opposition to capital gains taxes, which did not exist in the 18th century.

These economists interpret Marx's story about how money originates in the exchange process as a theory of commodity money, or the "commodity theory of money".

Despite the slight improvement, many economists interpreted the report as a sign that the economy remained sluggish and saw little evidence to suggest that the end of the recession was imminent.