This Week's State Of The Economy - What Is Ahead? - 25 November 2020

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Nov 28, 2020

This Week's State Of The Economy - What Is Ahead? - 25 November 2020

U.S. - One Can of Condensed Soup

  • It may be a holiday-shortened week, but there have been as many developments and economic indicators packed into three days as we can recall seeing in any other week this year.
  • We might have a third vaccine, but amid record case counts and double-digit positivity rates in many places, jobless claims posted the first back-to-back weekly increases since July.
  • But, there is hope. The manufacturing rebound continued with another solid increase in durable goods orders and corporate profits crested above its pre-pandemic peak for the first time.
  • Consumers, undaunted, increased spending 0.5% in October.

 

Global - Data Pointing to Softer Activity in Some Countries

  • In the Eurozone, November survey data continued to soften, with the manufacturing PMI edging lower to 53.6, while the services PMI fell further into contraction territory at 41.3. As COVID cases across Europe have increased, and lockdown measures have been re-imposed, the risk of an economic stumble has increased. Meanwhile, in the United Kingdom, survey data also pointed to softer activity as the November services PMI fell to 45.8.
  • In contrast to the subdued data in parts of the Northern hemisphere, New Zealand’s Q3 retail sales surged 28.0% quarter-over-quarter, the largest increase on record.



This Week's State Of The Economy - What Is Ahead? - 30 October 2020

Real GDP jumped a record 33.1% during Q3, beating expectations. A 40.7% surge in consumer spending drove the gain.

This Week's State Of The Economy - What Is Ahead? - 07 February 2020

U.S. employers added 225K new workers to their payrolls in January, which handily beat expectations. But the factory sector shed jobs for the third time in four months, and net layoffs were reported for finance and retail as well.

This Week's State Of The Economy - What Is Ahead? - 16 August 2019

Markets gyrated this week as the spread between the ten- and two-year Treasury\'s turned negative for the first time since 2007. Financial markets seem to expect that the sharp slowdown in growth overseas will soon spread to the United States.

This Week's State Of The Economy - What Is Ahead? - 11 September 2020

In the holiday-shortened week, analysts’ attention remained on the progress of the labor market. Recent jobless claims data remain stubbornly high and point to a slowing jobs rebound.

This Week's State Of The Economy - What Is Ahead? - 30 July 2021

Despite a few misses on the headline numbers, economic data this week highlighted a theme of demand continuing to outstrip supply and ongoing slack in the labor market.

This Week's State Of The Economy - What Is Ahead? - 22 May 2020

The re-opening of the country is getting underway, with all 50 states starting to roll back restrictions.

This Week's State Of The Economy - What Is Ahead? - 17 January 2020

Mild weather helped housing starts surge 16.9% in December to a 1.61 million-unit pace, the highest in 13 years. Manufacturing surveys from the New York Fed and Philadelphia Fed both rose more than expected in December.

This Week's State Of The Economy - What Is Ahead? - 18 November 2022

The resiliency of the U.S. consumer was also on display, as total retail sales increased a stronger-than-expected 1.3% in October, boosted, in part, by a 1.3% jump in motor vehicles & parts and a 4.1% rise at gasoline stations.

This Week's State Of The Economy - What Is Ahead? - 25 February 2022

What a crazy week. It’s hard to worry about something as relatively unimportant as economic trends when one thinks about what folks in Ukraine are enduring, but economies are nonetheless impacted.

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 © 2024 TC Global Commercial. All rights reserved.