This Week's State Of The Economy - What Is Ahead? - 14 January 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Jan 18, 2022

This Week's State Of The Economy - What Is Ahead? - 14 January 2022

As you may have already seen, inflation is running almost as hot as the stock of our favorite bank.  The Consumer Price Index (CPI) rose 7.0% year-over-year in December, the fastest increase in nearly 40 years. Similarly, the Producer Price Index (PPI) was up 9.7% over the year. Meanwhile, retail sales unexpectedly declined 1.9% in the final month of the year.  Maybe after years of promising to get our Holiday shopping done early (but never doing so), this year we finally did.




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President Trump became the third president in U.S. history to be impeached by the House, but removal by the Senate is highly unlikely. The House also passed the USMCA, which should be signed into law in early 2020.

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The manufacturing sector is showing a great deal of resilience, with the ISM Manufacturing survey exceeding expectations, at 60.7, and factory orders remaining strong.

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The details were generally more favorable. The retail sectors hurt most by the pandemic saw gains in August, factory output is growing and soaring homebuilder confidence suggests soft construction data this week may be transitory.


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