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.



This Week's State Of The Economy - What Is Ahead? - 16 October 2021

The first economic data released this week in the United States reinforced the theme that labor supply and demand are struggling to come into balance.

May 2020 Economy at a Glance

The U.S. is in a severe recession caused by the sudden shutdown due to the COVID-19 pandemic. Since the lock down began, the nation has lost 21.4 million jobs.

August 2020 Economy At A Glance

Downstream involves the refining and processing of oil and natural gas into fuels, chemicals, and plastics. All three sectors are well-represented in Houston.

This Week's State Of The Economy - What Is Ahead? - 17 February 2023

Inflation in the U.K. receded for the third straight month in January, with the headline rate coming in at 10.1% year-over-year. In bad news, this is still five times the Bank of England\'s 2% target.

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? - 09 December 2022

Various price metrics released this week showed some continued signs of inflation cooling, but gradually rather than rapidly.

This Week's State Of The Economy - What Is Ahead? - 15 January 2021

Retail sales fell 0.7% in December, the third straight monthly decline. Sales are still up 2.9% over the year, however.

This Week's State Of The Economy - What Is Ahead? - 11 March 2022

Russia\'s invasion of Ukraine continues to consume nearly all media attention and has created a level of volatility that is not yet reflected in the data released this week.

This Week's State Of The Economy - What Is Ahead? - 18 November 2022

The resiliency of the U.S. consumer was also on display, as total retail sales increased a stronger-than-expected 1.3% in October, boosted, in part, by a 1.3% jump in motor vehicles & parts and a 4.1% rise at gasoline stations.

This Week's State Of The Economy - What Is Ahead? - 01 July 2022

As with the Mets and Yankees when they ran into the Astros over the last couple days, consumers staying power is showing signs of running out as inflation persists and confidence moves sharply lower.


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