It’s been a really quiet week for economic data, which leaves free time to ponder other things, like an article I saw this week speculating on whether it’s better to be a fan of a football organization that models consistency, like the Houston Texans (as in consistently bad), or one like the Dallas Cowboys that teases success only to rip away that hope from its fans at the last moment. Hmmm…. On the other hand, we could ponder the state of the housing market. Neither scenario is particularly original. The Texans have earned a top draft position yet again, the Cowboys are home again for the remainder of the playoffs, and inflation concerns that continue to mount, along with ongoing supply chain disruptions, are weighing on homebuilder confidence in January. In spite of that, new home construction continues to run at a robust pace. The overall shortfall of housing inventories constrained buying activity in December and pulled existing median home prices higher. See this week’s attached Commentary for more insightful analysis of domestic and international economic trends and the ever-popular Federal Reserve watch.
If you’re one of the three people who have somehow avoided COVID Omicron so far, wow, that’s impressive. For everyone else, have some chicken soup, Nyquil and get plenty of rest.
Wells Fargo Economics & Financial Report / Mar 21, 2022
it was a big week for economic news as the Astros allowed the TWINS of all teams to sign Carlos Correa to the type of short-term deal that the Astros have historically been open to.
Wells Fargo Economics & Financial Report / Nov 16, 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%.
Wells Fargo Economics & Financial Report / May 29, 2022
it looks like higher mortgage rates are starting to have some effect on the housing market as April...
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.
Wells Fargo Economics & Financial Report / Dec 21, 2020
This week marked the first U.S. COVID vaccinations and the imminent rollout of a second vaccine.
Wells Fargo Economics & Financial Report / Nov 12, 2020
U.S. gross domestic product (GDP) grew 7.4 percent, or $1.3 trillion in Q3, adjusted for inflation.
Wells Fargo Economics & Financial Report / Oct 26, 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.
Wells Fargo Economics & Financial Report / Oct 24, 2020
A recent strong report from the National Association of Homebuilders set the tone for another round of strong housing data. The NAHB index rose two points to a record high 85.
Wells Fargo Economics & Financial Report / May 18, 2022
While small business enthusiasm appears to have stalled, as owners are concerned about their ability to continue to pass on higher costs to consumers, cautious enthusiasm around rookie Jeremy Pena’s start persists.
Wells Fargo Economics & Financial Report / Aug 29, 2022
I can understand how the opportunity to participate in lots of scintillating economic policy discussions could make fishing look exciting in comparison.