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

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Apr 26, 2021

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

U.S. Review: Raising the Bar Even Further 

  • This week's lighter economic calendar allowed forecasters more time to assess the implications from the prior week's blowout retail sales report. We have revised our forecast for Q1 growth up to a 5.5% pace from 4.8% previously, and growth for the year is now pegged at 6.5%, up from 6.4%. 
  •  Sales of existing homes fell 3.7% in March, but realtors are selling homes faster than ever and often well above the asking price. Inventories of homes remain near a record low, and the median price of an existing home surged 17.2% over the past year. 
  • Initial unemployment claims fell more than expected during the latest week, dropping to 547,000 claims—the lowest level since the pandemic began. The four-week moving average for the April survey week was 651,000, down from 751,750 from the March survey week, setting the stage for another strong employment report. 
  • New home sales surged 20.7% in March, and sales for February were revised signicantly higher. Builders report exceptionally strong demand and are selling homes faster than they can build them.



This Week's State Of The Economy - What Is Ahead? - 04 August 2023

Employment growth was broad-based, though reliant on a 87K gain in health care & social assistance. Modest gains from construction, financial activities and hospitality also contributed to private sector job growth.

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? - 24 June 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? - 12 February 2021

Market attention was concentrated on the January consumer price data, as inflation has come back into focus.

This Week's State Of The Economy - What Is Ahead? - 10 March 2023

Financial markets were looking for validation that January\'s unexpected strength was not a fluke and that the downward slide in economic momentum experienced late last year had stabilized.

This Week's State Of The Economy - What Is Ahead? - 10 November 2022

Relief in October inflation gives the FOMC the ability to slow the pace of rate hikes ahead. But make no mistake, the Fed\'s job of taming inflation remains far from over.

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? - 23 December 2020

Vaccines are here, but they are not yet widely available in a way that can stem the spread of a disease that grows by 200K a day.

28 January 2021 Economic Outlook Report

In our recently released second report in this series of economic risks, we focused on the potential of demand-side factors to lead to significantly higher U.S. inflation in the next few years.

This Week's State Of The Economy - What Is Ahead? - 03 February 2023

During January, payrolls jumped by 517K, the unemployment rate fell to 3.4% and average hourly earnings rose by 0.3%. The FOMC raised the fed funds target range by 25 bps to 4.5%-4.75% this week.


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.