U.S. - Bringing Down the Hammer
- Despite indications of lost momentum elsewhere, residential construction activity is picking up steam. A key survey shows confidence among home builders in August tied an all-time high set in 1998 and housing starts figures released this week handily exceeded expectations.
- Existing home sales rose 24.7% in July as the annualized pace of sales rose above 5.8 million.
- The leading economic index increased in July, but for the second straight month it did so at a slower pace.
- The number of people filing for unemployment insurance crested back up over a million in the first week of August.
Global - How Quickly Will Japan’s Economy Bounce Back?
- COVID-19 has wrought a far lower human toll on Japan than in most of Europe or the United States. Japan has a total of close to nine deaths per million people, in comparison to 530 per million in the United States or 587 per million in Italy.
- Despite a less severe lock down, the Japanese economy has taken a nosedive like many of its developed market peers. Data on Q2 real GDP growth in Japan was released this week and showed a 27.8% annualized contraction.
- Europe’s August PMI surveys were mixed. The U.K. PMIs firmed further, including the strongest reading for the services PMI since 2013. In contrast the Euro zone services PMI softened, but remained (just) in growth territory.
This Week's State Of The Economy - What Is Ahead? - 11 September 2020
Wells Fargo Economics & Financial Report / Sep 14, 2020
In the holiday-shortened week, analysts’ attention remained on the progress of the labor market. Recent jobless claims data remain stubbornly high and point to a slowing jobs rebound.
This Week's State Of The Economy - What Is Ahead? - 26 July 2024
Wells Fargo Economics & Financial Report / Jul 30, 2024
Economic growth defied expectations in the second quarter. Real GDP expanded at a 2.8% annualized rate, a sizable acceleration from 1.4% in Q1.
May 2020 Economy at a Glance
Wells Fargo Economics & Financial Report / May 19, 2020
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.
This Week's State Of The Economy - What Is Ahead? - 24 June 2022
Wells Fargo Economics & Financial Report / Jun 25, 2022
The biggest economic news was Fed Chair Powell presenting the Federal Reserve\'s semiannual Monetary Policy report to Congress this week.
This Week's State Of The Economy - What Is Ahead? - 10 November 2023
Wells Fargo Economics & Financial Report / Nov 16, 2023
Sometimes, the impact of higher rates is quite obvious, such as the series of bank failures that occurred earlier this year.
This Week's State Of The Economy - What Is Ahead? - 03 January 2020
Wells Fargo Economics & Financial Report / Jan 04, 2020
Markets were also pressured from the latest ISM manufacturing report, which signaled further deterioration in the sector with the index falling to its lowest level since 2009.
This Week's State Of The Economy - What Is Ahead? - 03 September 2021
Wells Fargo Economics & Financial Report / Sep 10, 2021
e move into the Labor Day weekend celebrating the 235K jobs added in August, while simultaneously lamenting that it was about half a million jobs short of expectations.
This Week's State Of The Economy - What Is Ahead? - 09 April 2021
Wells Fargo Economics & Financial Report / Apr 10, 2021
This week\'s economic data kicked of with a bang. The ISM Services Index jumped more than eight points to 63.7, signaling the fastest pace of expansion in the index\'s 24-year history.
This Week's State Of The Economy - What Is Ahead? - 16 October 2021
Wells Fargo Economics & Financial Report / Oct 22, 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? - 19 July 2024
Wells Fargo Economics & Financial Report / Jul 22, 2024
Retail sales, housing starts and industrial production all surprised to the upside this week.
