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? - 20 March 2020

Daily life came to a screeching halt this week as governments, businesses and consumers took drastic steps to halt the COVID-19 pandemic.

This Week's State Of The Economy - What Is Ahead? - 01 March 2024

Economic data were downbeat this week, as downward revisions took some of the shine out of the marquee headline numbers. Despite the somewhat weak start to Q1, economic growth continues to trek along.

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

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.

This Week's State Of The Economy - What Is Ahead? - 11 February 2022

Deep thought for the week, if a tree falls in the forest, or an Olympics occurs, and no one is there to hear it or see it, did it really occur?

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? - 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? - 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? - 29 September 2023

On the housing front, new home sales dropped more than expected in August, though an upward revision to July results left us about where everyone expected us to be year-to-date.

This Week's State Of The Economy - What Is Ahead? - 13 November 2020

The combination of the election outcome and a workable vaccine boosted financial markets and set the background music for this week’s short list of indicators.

This Week's State Of The Economy - What Is Ahead? - 22 November 2019

Minutes from the October FOMC meeting indicated the Fed is content to remain on the sidelines for the rest of this year as the looser financial conditions resulting from rate cuts at three consecutive meetings feed through to the economy.


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.