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

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

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

U.S. Review - Reopening Boom, while Supplies Last

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. The blowout report is just the latest data suggesting the full reopening boom is upon us. All 18 industries reported an increase in March, and the index on current business activity climbed to an all-time high.

 

Initial Claims' Noise Should Not Take Away from Strong Labor Market Signals

Filings for initial jobless claims increased for a second consecutive week, resulting in a modest increase in the four-week average. The recent increases in initial claims contrast with virtually every other labor market indicator, including the March nonfarm payroll report as well as surveys of businesses and consumers.




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.

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Retail sales beat expectations and rose 0.3% in October, reflecting the ongoing strength of the consumer. Control group sales, a major input to GDP, also increased 0.3%.

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During January, payrolls jumped by 517K, the unemployment rate fell to 3.4% and average hourly earnings rose by 0.3%. The FOMC raised the fed funds target range by 25 bps to 4.5%-4.75% this week.

This Week's State Of The Economy - What Is Ahead? - 01 October 2021

Economic data this week indicated that the ongoing expansion still has some momentum despite some familiar headwinds, though this week\'s releases were largely overshadowed by a busy week on Capitol Hill.

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A series of U.K. general election polls released this week continue to show Boris Johnson’s Conservative Party with a significant lead over the opposition Labor Party.

This Week's State Of The Economy - What Is Ahead? - 13 March 2020

Financial conditions tightened sharply this week as concerns over the coronavirus and the economic fallout of containment efforts mounted.

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During December, payrolls rose by 223K while the unemployment rate fell to 3.5% and average hourly earnings eased 0.3%. Job openings (JOLTS) edged down to 10.46 million in November.

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? - 02 April 2021

Increased vaccinations and an improving public health position led to an easing of restrictions and pickup in activity across the country in March.

This Week's State Of The Economy - What Is Ahead? - 17 December 2021

7 Interest Rate Watch for more detail. In other news, retail sales data disappointed as higher prices factor into spending and industrial activity continued to recover but remains beset by supply issues.


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