This Week's State Of The Economy - What Is Ahead? - 08 November 2019

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Nov 09, 2019

This Week's State Of The Economy - What Is Ahead? - 08 November 2019

U.S. - A Trade War Armistice? Don't Make it a Holiday Yet

  • Optimism soared this week on hopes of a forthcoming trade deal, as equity markets hit all-time highs and the yield curve steepened.
  • Due to the lack of concrete details, we are sticking to our assumption that the 15% tariffs on $156 billion of consumer goods imports will go into effect on December 15, but recognize there is some upside potential to growth and rates if a deal is reached.
  • Regardless, the economy has shown signs of stabilizing. The ISM non-manufacturing survey beat expectations this week by climbing to 54.7 from a three-year low of 52.6 last month.

 

Global Review - Central Banks Still Center Stage This Week

  • Central banks were back in focus this week, starting with Australia. The Reserve Bank of Australia kept its official Cash Rate steady at 0.75% and reiterated that it was prepared to ease policy further if needed.
  • Elsewhere, the Bank of England opted to keep its Bank Rate at 0.75%, but two BoE members unexpectedly voted to cut interest rates.
  • Canada's labor market added fewer jobs than expected in October; however, the unemployment rate remained at a near-record low. Even with the slight drop in October, the Canadian labor market is still performing relatively well.



This Week's State Of The Economy - What Is Ahead? - 09 June 2023

An unexpected spike in jobless claims is a sign that cracks are forming in the labor market. Higher mortgage rates look to be hindering a housing market rebound.

This Week's State Of The Economy - What Is Ahead? - 09 April 2021

This week\'s economic data kicked of with a bang. The ISM Services Index jumped more than eight points to 63.7, signaling the fastest pace of expansion in the index\'s 24-year history.

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

In what was a jam-packed week of economic data, the jobs report, prospects of additional fiscal stimulus and the president’s positive COVID-19 test result commanded markets’ attention.

This Week's State Of The Economy - What Is Ahead? - 16 August 2019

Markets gyrated this week as the spread between the ten- and two-year Treasury\'s turned negative for the first time since 2007. Financial markets seem to expect that the sharp slowdown in growth overseas will soon spread to the United States.

July 2020 Economy At A Glance

The recent surge in COVID-19 cases indicates that elected officials re-opened the economy too soon, that too many Americans are flaunting social distancing guidelines, and that the virus is likely to be around longer than we’d hoped.

This Week's State Of The Economy - What Is Ahead? - 03 June 2022

While talk of recession has kicked up in recent weeks, the majority of economic data remain consistent with modest growth.

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

Mobility is continuing to trickle lower in several major developed market economies. The U.K., France, Italy and Canada have all seen some further modest declines in retail/recreation visits.

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? - 16 April 2021

Data released this week continue to show that the economic recovery has gained momentum in March. The much anticipated consumer boom has arrived.

The Regional Breakdown Of A Labor Market In Meltdown

Employment fell in all 50 states and 43 states saw their unemployment rate rise to a record in April. The damage is already hard to fathom-a 28% unemployment rate in Nevada and still another month of job losses ahead.


Instagram

@ tcgcrealestate

Subscribe Now! IT's Free

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

Copyright © 2023 TC Global Commercial. All rights reserved.