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

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

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

U.S. - Well, That De-Escalated Quickly

  • The week began amid rising tensions carrying over from the U.S. killing of Iranian General Qasem Soleimani last Friday. Iran responded with non-lethal airstrikes on U.S. facilities, but President Trump has said the U.S. has no plans to escalate further, and the Iranians appear to have concluded their response for now.
  • Compared to just prior to the drone strike, U.S. stocks are higher as is the dollar and the price for a barrel of oil (after spiking briefly) is now about $2.00 lower.
  • The job market continued to expand adding another 145K jobs although wages rose the least since mid-2018.

 

Global - A (Mostly) Happy New Year

  • It was a relatively busy week for international data and events. In the Eurozone, inflation increased in December at the fastest pace since April, an encouraging sign for the ECB, while European industrial data were sturdy.
  • Canadian employment rebounded in December after two straight months of declines, lessening concerns about a slowdown in job growth.
  • In Mexico, the data was not as promising, however. Mexico’s consumer prices eased further in December and industrial production disappointed in November, supporting the case for additional monetary policy easing from the central bank.



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? - 30 September 2022

Just as I know the folks in Florida are resilient and will recover in time, incoming data indicate a slowing yet resilient economy.

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.

November 2020 Economy At A Glance

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 July 2021

We added 850,00 jobs in June, but much of that was State governments school districts in some parts of the Country reopening just in time for summer break.

This Week's State Of The Economy - What Is Ahead? - 24 February 2023

Existing home sales declined 0.7% in January, while new home sales leaped 7.2%. Real personal spending shot higher in January, and solid growth in discretionary spending suggests continued consumer resilience.

This Week's State Of The Economy - What Is Ahead? - 21 April 2023

The Leading Economic Index (“LEI”) continued to flash contraction as early signs of labor market weakening are starting to emerge. Meanwhile, a batch of housing data confirmed that a full-fledged housing market recovery is still far off.

This Week's State Of The Economy - What Is Ahead? - 22 July 2022

July\'s NAHB Housing Market Index dropped 12 points to 55, the second largest monthly decline on record behind April 2020\'s pandemic-induced collapse.

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? - 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.


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