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

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Nov 16, 2019

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

U.S. - The Consumer-Producer Divide on Full Display 

  • 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%.
  • Industrial production in October declined 0.8%. Overall production remains in the doldrums with the energy sector pulling back and continued weakness in manufacturing, even outside the auto sector.
  • The CPI advanced 0.4% during October, the strongest gain in eight months. The monthly jump was owed to a surge in gas prices, and core CPI grew a more modest 0.2%.

 

Global Review - Another Week, Another Central Bank Surprise

  • The Reserve Bank of New Zealand caught markets off guard at its meeting this week with its decision to hold its main policy rate steady at 1.00%, saying that monetary policy is stimulatory and that there is no urgency to act further.
  • The latest Swedish inflation data added support to the central bank’s plan to raise interest rates to 0%, even though they were slightly below the Riksbank forecast.
  • In a split vote at its meeting this week, the Bank of Mexico opted to ease monetary policy, cutting its main policy rate 25 bps to 7.50%, the third such move this year.



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? - 01 October 2021

Economic data this week indicated that the ongoing expansion still has some momentum despite some familiar headwinds, though this week\'s releases were largely overshadowed by a busy week on Capitol Hill.

This Week's State Of The Economy - What Is Ahead? - 30 October 2020

Real GDP jumped a record 33.1% during Q3, beating expectations. A 40.7% surge in consumer spending drove the gain.

This Week's State Of The Economy - What Is Ahead? - 17 June 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? - 19August 2022

July data indicates that we celebrated a decline in gas prices by going shopping, boosting retail sales figures. I’m not sure I get the connection...

This Week's State Of The Economy - What Is Ahead? - 12 May 2023

In April, the CPI rose 0.4% on both a headline and core basis, keeping the core running at a 5.1% three-month annualized rate. However, details pointed to price growth easing ahead.

This Week's State Of The Economy - What Is Ahead? - 25 October 2019

Sales of existing homes fell 2.2% to a 5.38 million-unit pace in September, but sales and prices were still up enough in the quarter that they will add solidly to Q3 GDP growth.

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

The Federal Reserve greatly expanded the collateral that it is willing to buy, further easing pressures in financial markets.

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

Highly anticipated Consumer Price Index report surprised to the upside. Headline CPI rose 0.4% in September, and core CPI increased 0.6%.

This Week's State Of The Economy - What Is Ahead? - 23 July 2021

In the biggest financial news this week not connected to college football conference realignment, July\'s NAHB Housing Market Index slipped one point to 80.


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