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

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Oct 12, 2020

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

U.S. - Slow Data Week Puts More Focus on Policy

  • Weekly first time unemployment claims highlighted an extraordinarily slow week for economic news. Jobless claims fell slightly but continuing claims fell by one million.
  • The ISM non-manufacturing survey handily beat expectation, rising 0.9 points to 57.8.
  • Job openings, as tallied by the Bureau of Labor Statistics’ JOLTS survey, fell by 200,000 to 6.49 million in August.
  • The nation’s trade deficit widened sharply to $67.1 billion in August, as consumer spending on goods has rebounded well ahead of many other nations.

 

Global - RBA on Hold; Canadian Job Gains Accelerate

  • The Reserve Bank of Australia held its cash rate and three-year yield target unchanged at 0.25%, as expected, but reiterated that fiscal and monetary support will be required for some time. Following the RBA meeting, Australia released its fiscal plan, which is now expected to push the cash deficit to a record high.
  • Mexican inflation remained above the central bank’s upper bound inflation target of 4% in September, while Brazil’s September IPCA consumer prices rose to 3.14% year-over-year. Elsewhere, Canadian employment growth unexpectedly accelerated in September, while the unemployment rate slid to 9.0%.



This Week's State Of The Economy - What Is Ahead? - 29 January 2021

Economic data came in largely as expected this week and suggest continued economic recovery.

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? - 13 September 2024

The core Consumer Price Index (CPI) printed at 0.3% month-over-month in August. This was slightly higher than consensus forecasts and marked the fastest price increase in four months.

This Week's State Of The Economy - What Is Ahead? - 03 January 2020

Markets were also pressured from the latest ISM manufacturing report, which signaled further deterioration in the sector with the index falling to its lowest level since 2009.

This Week's State Of The Economy - What Is Ahead? - 25 March 2022

The fact that capital goods shipments surprised on the upside was one of the few things that went right in this week\'s durable goods report.

This Week's State Of The Economy - What Is Ahead? - 14 February 2020

Retail sales increased for a fourth straight month in January, underscoring the resiliency of the U.S. consumer. Fundamentals are solid and support our expectations for healthy consumer spending gains in coming months.

This Week's State Of The Economy - What Is Ahead? - 10 March 2023

Financial markets were looking for validation that January\'s unexpected strength was not a fluke and that the downward slide in economic momentum experienced late last year had stabilized.

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.

This Week's State Of The Economy - What Is Ahead? - 30 August 2024

Revisions to PCE were broad based across the goods and services components and make it less clear that the restrictive interest rate environment is poising a major impediment to household spending.

This Week's State Of The Economy - What Is Ahead? - 10 November 2022

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.


Instagram

@ tcgcrealestate

Subscribe Now! IT's Free

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

Copyright © 2024 TC Global Commercial. All rights reserved.