This Week's State Of The Economy - What Is Ahead? - 06 December 2019

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Dec 07, 2019

This Week's State Of The Economy - What Is Ahead? - 06 December 2019

U.S. - Hiring Report Telling You Be of Good Cheer

  • The latest hiring data are an encouraging sign that the U.S. economy is withstanding the global slowdown and continued trade-related uncertainty. Solid labor market conditions echo the Fed’s assessment that the current stance of monetary policy remains appropriate. The FOMC will be on hold next week.
  • Despite encouraging signals from the labor market, the trade war remains a headwind. Murmurs of a possible “Phase I” trade deal flooded news headlines this week, but continue to be void of details. Trade uncertainty continues to weigh on manufacturing and has permeated into the service sector, though not nearly to the same extent.

 

Global Review - Are We There Yet?

  • While the global bias remains towards easier monetary policy, there are some hints we may be getting closer to the end of this global easing cycle. Among the several announcements this past week, central banks in Australia, Canada, India and Chile all held rates steady, while Canada and Chile also hinted at rates remaining on hold for the foreseeable future.
  • The news from the Eurozone was mixed this week. The Q3 GDP details showed a reasonably solid domestic economy as underlying final domestic demand rose 0.4% quarter-overquarter, but Eurozone retail sales and German industrial output both registered large declines in October.



September 2020 Economy At A Glance

A March survey by the Federal Reserve Bank of Dallas found most exploration firms need West Texas Inter-mediate (WTI) at $49 per barrel or higher to profitably drill a well.

This Week's State Of The Economy - What Is Ahead? - 23 October 2020

A recent strong report from the National Association of Homebuilders set the tone for another round of strong housing data. The NAHB index rose two points to a record high 85.

This Week's State Of The Economy - What Is Ahead? - 18 September 2020

The details were generally more favorable. The retail sectors hurt most by the pandemic saw gains in August, factory output is growing and soaring homebuilder confidence suggests soft construction data this week may be transitory.

This Week's State Of The Economy - What Is Ahead? - 08 January 2021

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.

This Week's State Of The Economy - What Is Ahead? - 09 October 2020

Weekly first time unemployment claims highlighted an extraordinarily slow week for economic news. Jobless claims fell slightly but continuing claims fell by one million.

This Week's State Of The Economy - What Is Ahead? - 11 September 2020

In the holiday-shortened week, analysts’ attention remained on the progress of the labor market. Recent jobless claims data remain stubbornly high and point to a slowing jobs rebound.

This Week's State Of The Economy - What Is Ahead? - 27 September 2019

The release of the transcript of President Trump\'s phone conversation with Ukraine President Volodymyr Zelenskiy and the whistle blower complaint overshadowed most of this week\'s economic reports and took bond yields modestly lower.

This Week's State Of The Economy - What Is Ahead? - 02 July 2020

It was a mildly busy week for foreign economic data and events, while global COVID-19 cases continued to rise.

This Week's State Of The Economy - What Is Ahead? - 22 November 2019

Minutes from the October FOMC meeting indicated the Fed is content to remain on the sidelines for the rest of this year as the looser financial conditions resulting from rate cuts at three consecutive meetings feed through to the economy.

This Week's State Of The Economy - What Is Ahead? - 30 April 2021

The gain in output leaves the level of real GDP just a stone\'s throw below its pre-COVID Q4-2019 level (see chart).


Instagram

@ tcgcrealestate

Subscribe Now! IT's Free

Stay up to date with all news coming straight in your mailbox.

Copyright © 2021 TC Global Commercial. All rights reserved.