This Week's State Of The Economy - What Is Ahead? - 03 September 2021

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Sep 10, 2021

This Week's State Of The Economy - What Is Ahead? - 03 September 2021

One more month of wicked heat here in Houston, then fall arrives.  We move into the Labor Day weekend celebrating the 235K jobs added in August, while simultaneously lamenting that it was about half a million jobs short of expectations. For financial markets, who were hanging on every indication of the labor market as a clue to eventual Fed tapering, this report did not shout "substantial further progress." Other economic indicators this week were emblematic of the crosscurrents confronting the U.S. economy as it transitions from the vaccine- & stimulus-fueled surge in activity earlier in the year to a yet-to-be-determined new normal.




This Week's State Of The Economy - What Is Ahead? - 07 April 2023

Employers added jobs at the slowest pace since 2020 in March, job openings fell and an upward trend in initial jobless claims has emerged.

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Real GDP jumped a record 33.1% during Q3, beating expectations. A 40.7% surge in consumer spending drove the gain.

This Week's State Of The Economy - What Is Ahead? - 05 February 2021

Nonfarm employment rebounded in January, with employers adding 49,000 jobs following the prior month\'s 227,000-job drop.

This Week's State Of The Economy - What Is Ahead? - 04 June 2021

The CDC\'s relaxation of its mask mandate occurred mid-May, and as data for that month begins rolling in this week, it is evident there is no lack of demand. Supplies, on the other hand, are a worsening problem.

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Fears of an escalating coronavirus outbreak reached the United States this week, as a Washington state man became the first confirmed domestic case and the international total reached more than 800.

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Relief in October inflation gives the FOMC the ability to slow the pace of rate hikes ahead. But make no mistake, the Fed\'s job of taming inflation remains far from over.

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The combination of the election outcome and a workable vaccine boosted financial markets and set the background music for this week’s short list of indicators.

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Economic data continue to suggest the U.S. economy is only gradually losing momentum. Consumers continue to spend, and industrial and housing activity are seeing some stabilization.

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The manufacturing sector is showing a great deal of resilience, with the ISM Manufacturing survey exceeding expectations, at 60.7, and factory orders remaining strong.

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An inter-meeting rate cut by the FOMC did little to stem financial market volatility, as the number of confirmed COVID-19 cases continued to climb.


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