This Week's State Of The Economy - What Is Ahead? - 12 August 2020

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Aug 15, 2020

This Week's State Of The Economy - What Is Ahead? - 12 August 2020

U.S.  - After Strong Initial Rebound, Momentum is Slowing

  • The economic recovery continued into July, though the pace is slowing. The consumer has been a bright spot in the recovery so far, but with jobless benefits in flux and no clear path for the long-awaited stimulus bill, the support here could fade.
  • Consumer prices picked up in July, but weak demand will likely keep a lid on inflation in coming months.
  • While retail sales are back above their pre-virus peak, consumer caution was evident in the July data.
  • Initial claims for unemployment came in below 1 million last week for the first time in 20 weeks. This is a marked improvement, but unemployment remains strikingly high. 

Global - Global Recovery Persists, Pace Moderates

  • After a challenging start to 2020 economies around the world are turning the corner, albeit it at varying speeds.
  • Euro zone June industrial output showed a large monthly increase, similar to a large gain in retail sales, but Q2 employment fell sharply. In China, July industrial output growth was steady while the fall in retail sales lessened.
  • Some economic regions are lagging. U.K. Q2 GDP fell more than 20% quarter-over-quarter, although activity started to improve by the end of Q2. Similarly, the rebound in activity in Mexico and Brazil remains relatively gradual so far.



This Week's State Of The Economy - What Is Ahead? - 14 April 2023

In March retail sales fell 1.0%, manufacturing production slipped 0.5% and the consumer price index rose a modest 0.1%.

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.

This Week's State Of The Economy - What Is Ahead? - 11 June 2021

Okay, so I’ve gotten about half a dozen calls since Wednesday asking if I saw the May CPI numbers that came out this week.

This Week's State Of The Economy - What Is Ahead? - 05 June 2020

Data this week continued to suggest the U.S. economy hit rock bottom in April. Still, it is a long road to recovery and the pickup in economic activity will be gradual.

This Week's State Of The Economy - What Is Ahead? - 05 February 2021

Nonfarm employment rebounded in January, with employers adding 49,000 jobs following the prior month\'s 227,000-job drop.

This Week's State Of The Economy - What Is Ahead? - 15 November 2019

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%.

July 2020 Economy At A Glance

The recent surge in COVID-19 cases indicates that elected officials re-opened the economy too soon, that too many Americans are flaunting social distancing guidelines, and that the virus is likely to be around longer than we’d hoped.

This Week's State Of The Economy - What Is Ahead? - 27 November 2019

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? - 23 September 2020

European activity is surging. Germany and Italy are leading the way, but France is close behind despite an ongoing rise in cases. The Google data are a bit outdated, but are hard to reconcile with today’s weak Eurozone services PMI figures.

This Week's State Of The Economy - What Is Ahead? - 20 March 2020

Daily life came to a screeching halt this week as governments, businesses and consumers took drastic steps to halt the COVID-19 pandemic.


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.