This Week's State Of The Economy - What Is Ahead? - 25 June 2021

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

This Week's State Of The Economy - What Is Ahead? - 25 June 2021

Well, here we are at the half-way point for 2021.  Maybe it’s just me, but it feels like it got here really quick this year.  Maybe it’s all the turbulence as the economy has whip-sawed back to life.  One week lumber was normal, then more expensive than a precious metal, then back again.  Supply chain bottlenecks continue to cause pain-in-the-necks.  In spite of all the difficulties, the Economic whizzes in the WF Economics team have upgraded their forecast for full-year 2021 U.S. GDP growth to 7.3%.  If this above-consensus forecast comes to fruition, it would be the strongest year of growth since 1951.




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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.

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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

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

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Okay, so I’ve gotten about half a dozen calls since Wednesday asking if I saw the May CPI numbers that came out this week.

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This week\'s light calendar of economic reports showed supply chain disruptions tugging a little at economic growth.

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It was a mildly busy week for foreign economic data and events, while global COVID-19 cases continued to rise.

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August 2020 Economy At A Glance

Downstream involves the refining and processing of oil and natural gas into fuels, chemicals, and plastics. All three sectors are well-represented in Houston.


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