This Week's State Of The Economy - What Is Ahead? - 29 May 2020

By: Taro Chellaram /Wells Fargo Economics & Financial Report/May 30, 2020

This Week's State Of The Economy - What Is Ahead? - 29 May 2020

U.S. - The U.S. Economy Appears to Have Bottomed in April

  • The beginning of this week saw some optimism that the economic downturn could be relatively short-lived, but data through the rest of the week provided grim reminder of the economic damage from COVID-19.
  • Jobless claims declined for the eighth straight week, but continuing claims posted their first decline during the pandemic period, a positive signal for the labor market.
  • The second estimate of Q1 U.S. output revealed a slightly worse decline in real GDP. Q2 will be much worse.

 

Global - Keep Looking Forward, Don’t Look Back

  • Q1 GDP for the OECD economies, which includes most developed economies, fell 1.8% quarter-over-quarter and 0.8% year-over-year. Considering the slowdown seen in emerging economies such as China, India and Brazil, we expect the decline in Q2 GDP for the G20 economies to be even larger.
  • Some modestly encouraging signs are starting to emerge. PMI surveys across many countries improved in May, as did German IFO business confidence and Eurozone economic confidence.
  • That said, with the outlook still somewhat uncertain, we expect the ECB to ease monetary policy further next week.



This Week's State Of The Economy - What Is Ahead? - 23 April 2021

This week\'s lighter economic calendar allowed forecasters more time to assess the implications from the prior week\'s blowout retail sales report.

This Week's State Of The Economy - What Is Ahead? - 18 September 2020

The details were generally more favorable. The retail sectors hurt most by the pandemic saw gains in August, factory output is growing and soaring homebuilder confidence suggests soft construction data this week may be transitory.

This Week's State Of The Economy - What Is Ahead? - 12 May 2023

In April, the CPI rose 0.4% on both a headline and core basis, keeping the core running at a 5.1% three-month annualized rate. However, details pointed to price growth easing ahead.

This Week's State Of The Economy - What Is Ahead? - 12 February 2021

Market attention was concentrated on the January consumer price data, as inflation has come back into focus.

This Week's State Of The Economy - What Is Ahead? - 20 November 2020

The international economic news over the past week has been somewhat mixed. On the positive side, China’s October data showed ongoing growth in manufacturing and firming retail and service sector activity.

How Long Can US Businesses Remain Shut Down?

The sudden stop in economic activity caused by the COVID-19 pandemic means that many businesses will need to rely on their cash reserves to survive the next few months.

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.

28 January 2021 Economic Outlook Report

In our recently released second report in this series of economic risks, we focused on the potential of demand-side factors to lead to significantly higher U.S. inflation in the next few years.

This Week's State Of The Economy - What Is Ahead? - 04 September 2020

Employers added jobs for the fourth consecutive month in August, bringing the total number of jobs recovered from the virus-related low to 10.5 million.

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.