This Week's State Of The Economy - What Is Ahead? - 07 August 2020

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Aug 11, 2020

This Week's State Of The Economy - What Is Ahead? - 07 August 2020

Global - Global Economy Continues to Recoup Lost Ground

  • There were more signs of global recovery this week and PMI surveys improved further across the world. Indeed, the global manufacturing and services PMIs rose above the break even 50 level, suggesting the global economy has returned to positive growth in Q3.
  • The Euro zone economy showed increased momentum in June as retail sales returned to pre-pandemic level and industrial output rose for the region’s four largest economies. We expect that improved Euro zone momentum carried into Q3. Meanwhile, the recovery is slower in Latin America, where Brazil and Mexico both still appear to be contracting. 

U.S. - Service Elevator

  • Despite rising virus case counts in July, unexpected strength in the service sector was evident in the economic data this week.
  • The better-than-expected July jobs report was driven primarily by hiring in the service sector, which accounted for 1.42 million of the overall 1.76 million jobs added in the month.
  • The ISM index for the service sector was arguably the biggest economic surprise of the week climbing to 58.1 with some sub components reaching multi-year highs.
  • It remains a long road to recovery and the virus still sets the timetable, but numbers moved in the right direction this week.



This Week's State Of The Economy - What Is Ahead? - 29 July 2022

Unlike the local temperatures, data released this week showed U.S. economic growth modestly declined in Q2.

This Week's State Of The Economy - What Is Ahead? - 17 January 2020

Mild weather helped housing starts surge 16.9% in December to a 1.61 million-unit pace, the highest in 13 years. Manufacturing surveys from the New York Fed and Philadelphia Fed both rose more than expected in December.

This Week's State Of The Economy - What Is Ahead? - 21 February 2020

Minutes from the January 28-29 FOMC meeting indicate the coronavirus will not push the Fed to cut interest rates, and for the most part housing and manufacturing survey data this week supported that view.

This Week's State Of The Economy - What Is Ahead? - 22 May 2020

The re-opening of the country is getting underway, with all 50 states starting to roll back restrictions.

This Week's State Of The Economy - What Is Ahead? - 10 November 2020

The U.S. election has come and gone, but we have not made any meaningful changes to our economic outlook, which continues to look for further expansion in the U.S. economy in coming quarters.

This Week's State Of The Economy - What Is Ahead? - 11 August 2023

During July, both the headline and core Consumer Price Index (CPI) rose 0.2%. On a year-over-year basis, the core CPI was up 4.7% in July. Recent signs have been more encouraging, with core CPI running at a 3.1% three-month annualized pace.

This Week's State Of The Economy - What Is Ahead? - 18 October 2024

Retail sales came in stronger than expected in September, industrial production was weaker than expected and residential construction softened.

This Week's State Of The Economy - What Is Ahead? - 11 February 2022

Deep thought for the week, if a tree falls in the forest, or an Olympics occurs, and no one is there to hear it or see it, did it really occur?

This Week's State Of The Economy - What Is Ahead? - 14 January 2022

As you may have already seen, inflation is running almost as hot as the stock of our favorite bank. The Consumer Price Index (CPI) rose 7.0% year-over-year in December, the fastest increase in nearly 40 years.

This Week's State Of The Economy - What Is Ahead? - 25 October 2019

Sales of existing homes fell 2.2% to a 5.38 million-unit pace in September, but sales and prices were still up enough in the quarter that they will add solidly to Q3 GDP growth.


Instagram

@ tcgcrealestate

Subscribe Now! IT's Free

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

Copyright © 2025 TC Global Commercial. All rights reserved.