U.S - Policy Moves Are More Important than the Data
- The Federal Reserve greatly expanded the collateral that it is willing to buy, further easing pressures in financial markets.
- While hiccups in implementing the Payroll Protection Program have been frustrating, the plan offers significant relief to small businesses that will lessen the severity of the downturn and contribute to a speedier recovery.
- High frequency data, such as jobless claims, consumer confidence and mortgage applications, continue to show an economy under intense pressure. Inflation data are largely old news given the sharp plunge in demand in recent weeks.
Global - Bad Economic News Keeps on Coming
- 2020 is going to be a very tough year for the global economy. In our latest forecast update published earlier this week, we highlighted that every major economy we monitor will suffer a recession, and we revised our GDP forecast down further to project a 2.7% global contraction this year.
- This week’s data gave further clarity on how bad global activity might be. Canada’s March employment fell by one million, and given a large drop in hours worked a sizable Q1 decline looks assured. The U.K. economy was slowing even before the virus hit and the U.K. should also see Q1 GDP fall, while next week’s data focus will be an expected slump in China’s Q1 GDP.
This Week's State Of The Economy - What Is Ahead? - 08 May 2020
Wells Fargo Economics & Financial Report / May 15, 2020
April nonfarm payrolls confirmed what we already knew—the labor market is collapsing. By the survey week of April 12, net employment had fallen by 20,500,000 jobs.
November 2020 Economy At A Glance
Wells Fargo Economics & Financial Report / Nov 12, 2020
U.S. gross domestic product (GDP) grew 7.4 percent, or $1.3 trillion in Q3, adjusted for inflation.
This Week's State Of The Economy - What Is Ahead? - 02 December 2022
Wells Fargo Economics & Financial Report / Dec 08, 2022
Total payrolls rose by 263K in November, with the unemployment rate holding steady at 3.7% and average hourly earning rising by 0.6%.
This Week's State Of The Economy - What Is Ahead? - 02 April 2021
Wells Fargo Economics & Financial Report / Apr 08, 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? - 31 July 2020
Wells Fargo Economics & Financial Report / Aug 11, 2020
The resurgence in COVID-19 in much of the Sun Belt appears to have topped out, although cases are rising faster in some smaller mid-Atlantic states and in parts of Europe, Asia and Australia.
This Week's State Of The Economy - What Is Ahead? - 12 June 2020
Wells Fargo Economics & Financial Report / Jun 13, 2020
Lock downs began to be lifted across most of the country by the end of May and the total amount of daily new coronavirus cases has been trending lower. But the flattening case count has not been consistent across the country.
This Week's State Of The Economy - What Is Ahead? - 16 August 2019
Wells Fargo Economics & Financial Report / Aug 17, 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.
This Week's State Of The Economy - What Is Ahead? - 17 June 2022
Wells Fargo Economics & Financial Report / Jun 20, 2022
After last week\'s stronger-than-expected CPI, less surprising was the 75 point rate increase put forth by the Fed.
This Week's State Of The Economy - What Is Ahead? - 26August 2022
Wells Fargo Economics & Financial Report / Aug 29, 2022
I can understand how the opportunity to participate in lots of scintillating economic policy discussions could make fishing look exciting in comparison.
This Week's State Of The Economy - What Is Ahead? - 21 August 2020
Wells Fargo Economics & Financial Report / Aug 18, 2020
Despite indications of lost momentum elsewhere, residential construction activity is picking up steam.
