This Week's State Of The Economy - What Is Ahead? - 23 September 2020

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

This Week's State Of The Economy - What Is Ahead? - 23 September 2020

Global Mobility Report

 

Key takeaways from this week (Google data through September 13, Apple data through September 21) 

  • European activity is surging. Germany and Italy are leading the way, but France is close behind despite an ongoing rise in cases. The Google data are a bit outdated, but are hard to reconcile with today’s weak Eurozone services PMI figures. Still, the data are an encouraging sign for Europe’s recovery.
  • The U.S. Labor Day boost has faded. Retail and recreation visits have stalled and are turning lower, and Apple data suggest a similar pattern. The slowdown is broadly based across the largest U.S. states.
  • Korea is rebounding from the lows, while the United Kingdom languishes. Korea eased some restrictions on activity in Seoul earlier this month after new case growth lessened, which may have helped the turnaround. Still, Korea remains near the bottom of the pack in the all-important retail and recreation category, along with the United Kingdom. U.K. PM Boris Johnson’s announcement this week that more restrictions would be placed on bars, restaurants and other activities should keep U.K. activity restrained.
  • Workplace mobility remains subdued across the board. Major European economies have seen some rebound, but it is slowing, and other countries are seeing flat or weakening workplace visits. U.K. workplace activity is likely to slow even further after PM Johnson encouraged more working from home. 



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

As you may have already seen, inflation is running almost as hot as the stock of our favorite bank. The Consumer Price Index (CPI) rose 7.0% year-over-year in December, the fastest increase in nearly 40 years.

This Week's State Of The Economy - What Is Ahead? - 21 October 2022

The real estate sector has been significantly affected by rising interest rates, with total housing starts falling 8.1% in September. Peering ahead, the forward-looking Leading Economic Index points to a recession in the coming year.

This Week's State Of The Economy - What Is Ahead? - 27 November 2019

A series of U.K. general election polls released this week continue to show Boris Johnson’s Conservative Party with a significant lead over the opposition Labor Party.

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? - 04 March 2022

February\'s employment data showed the economy had strong momentum, but that seems pretty dated now with Russia\'s invasion of Ukraine and the Fed\'s shift to a more hawkish tone on monetary policy.

This Week's State Of The Economy - What Is Ahead? - 03 April 2020

Efforts to contain the virus are leading to millions of job losses and it’s likely only a matter of time before a majority of economic data reveal unprecedented declines.

This Week's State Of The Economy - What Is Ahead? - 24 September 2021

While fears of an Evergrande default in China were rattling financial markets, for those of us in Southeast Texas who have survived the typically very hot months of July, August and September, this week brought the very welcome first early fall-like

This Week's State Of The Economy - What Is Ahead? - 20 January 2023

The housing sector has borne the brunt of the Fed\'s efforts to slow the economy, and this week\'s data showed the industry continues to reel.

This Week's State Of The Economy - What Is Ahead? - 06 August 2021

Back to the economy, issues with supply constraints remains a broken-record reference, but data this week highlighted the economy\'s resilience in spite of those continuing problems.

This Week's State Of The Economy - What Is Ahead? - 20 September 2019

The Federal Reserve reduced the fed funds rate 25 bps this week, continuing to cite economic weakness overseas and muted inflation pressures.


Instagram

@ tcgcrealestate

Subscribe Now! IT's Free

Stay up to date with all news coming straight in your mailbox.

Copyright © 2023 TC Global Commercial. All rights reserved.