This Week's State Of The Economy - What Is Ahead? - 19 June 2020

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Jun 22, 2020

This Week's State Of The Economy - What Is Ahead? - 19 June 2020

U.S. - May Retail Sales Surge, but Other Data Disappoint

  • Retail sales kicked off the week with a bang, rising 17.7% month-over-month in May. The increase was larger than every single one of the 74 forecast submissions.
  • The factory data were not as encouraging. Industrial production growth was just 1.4% in May, below the 3.0% consensus. On a year-over-year basis, the decline in industrial output was more than double the decline in retail sales.
  • The initial jobless claims data were the last major release of the week, and they too were disappointing. Even more disappointing were the continuing claims data, which showed almost no change in those receiving unemployment benefits from May 30 to June 6.

 

Global - Global Central Banks Back in Focus This Week

  • It was a busy week for central banks across the globe, with some opting to ease monetary policy further.
  • Within the G10, the Bank of England announced a £100B increase in its asset purchase target, but some elements of the accompanying statement were less dovish in tone. Meanwhile, the Norges Bank left its policy rate unchanged at zero.
  • Among the emerging economies, Brazil’s central bank delivered a 75 bps rate cut, and left the door open to additional cuts. Meanwhile, the Bank of Russia cut its Key rate a full percentage point, but Taiwan’s central bank kept rates on hold.



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? - 29 March 2024

Consumer momentum remains largely intact, inflation continues to inch back down, albeit at a slower pace, and rate-sensitive sectors stayed in a holding pattern.

This Week's State Of The Economy - What Is Ahead? - 02 July 2020

It was a mildly busy week for foreign economic data and events, while global COVID-19 cases continued to rise.

This Week's State Of The Economy - What Is Ahead? - 17 September 2021

While we were picking up tree limbs from the yard, data released this week generally showed a stronger economy in August than many expected in the wake of surging COVID cases.

This Week's State Of The Economy - What Is Ahead? - 25 June 2021

Supply chain bottlenecks continue to cause pain-in-the-necks. In spite of all the difficulties, the Economic whizzes in the WF Economics team have upgraded their forecast for full-year 2021 U.S.

This Week's State Of The Economy - What Is Ahead? - 10 September 2021

Data from the opening weekend of College Football indicates that we will have to endure another season of Nick Saban deification.

Rising COVID-19 Cases Put A Damper On Re-openings

The rising number of COVID-19 infections gained momentum this week, with most of the rise occurring in the South and West. The rise in infections is larger than can be explained by increased testing alone and is slowing re-openings.

This Week's State Of The Economy - What Is Ahead? - 26August 2022

I can understand how the opportunity to participate in lots of scintillating economic policy discussions could make fishing look exciting in comparison.

Economic Uncertainty Seems Removed Going Into The New Year 2020

The U.S. economy continues to expand, albeit at a moderate pace. The U.S. Bureau of Economic Analysis reports U.S. gross domestic product (GDP) grew 2.1 percent in Q3/19.

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.


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.