This Week's State Of The Economy - What Is Ahead? - 24 January 2020

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Jan 25, 2020

This Week's State Of The Economy - What Is Ahead? - 24 January 2020

U.S. Review - Something in the Air 

  • Fears of an escalating coronavirus outbreak reached the United States this week, as a Washington state man became the first confirmed domestic case and the international total reached more than 800.
  • We expect any short-term economic impact to be limited and concentrated in East Asia, but the U.S. economy is certainly more vulnerable to shocks at this stage in the cycle. Sentiment matters.
  • On the home front, December existing home sales rose a solid 3.6% to a 5.54 million-unit pace as the housing market renaissance continues.

 

Global Review - China’s Coronavirus Spreading to Financial Markets

  • For the last three weeks, a new coronavirus has originated in China and spread across Asia. Most recently, the virus was confirmed to have entered the United States, sparking reminders of the SARS epidemic that plagued China and Asia in the early 2000s.
  • These fears have reached financial markets, with Asian and Chinese asset prices coming under pressure over the last few weeks. With travel restrictions put in place and the Chinese New Year approaching, Chinese economic activity data could be affected; however, we would expect any disruptions to be short-lived.



This Week's State Of The Economy - What Is Ahead? - 13 October 2023

The Consumer Price Index (CPI) rose 0.4% in September, a monthly change that was a bit softer than the 0.6% increase registered in August. The core CPI rose 0.3% during the month, a pace unchanged from the month prior.

This Week's State Of The Economy - What Is Ahead? - 16 October 2020

Data continue to reflect an economy digging itself out of the lockdown-induced slump.

This Week's State Of The Economy - What Is Ahead? - 12 August 2020

The consumer has been a bright spot in the recovery so far, but with jobless benefits in flux and no clear path for the long-awaited stimulus bill, the support here could fade.

This Week's State Of The Economy - What Is Ahead? - 02 September 2022

More job seekers also lifted the participation rate to 62.4% and thus easing some tightness in the job market even as payrolls expanded.

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.

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

Although payroll growth is easing, the labor market remains relatively tight. The unemployment rate inched up to 3.9% in October, slightly higher than the cycle low of 3.4% first hit in January 2023, but still low compared to historical averages.

This Week's State Of The Economy - What Is Ahead? - 07 October 2022

higher interest rates and inflation appear to be weighing on manufacturing and construction, yet service sector activity remains fairly resilient.

This Week's State Of The Economy - What Is Ahead? - 22 October 2021

Restrictions from a renewed COVID outbreak in China, regulatory changes weighing on local financial markets and a potential collapse of Evergrande have all contributed to a slowdown in Chinese economic activity.

This Week's State Of The Economy - What Is Ahead? - 21 May 2021

Over the past year, the housing market has become white-hot.

This Week's State Of The Economy - What Is Ahead? - 16 April 2021

Data released this week continue to show that the economic recovery has gained momentum in March. The much anticipated consumer boom has arrived.


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