This Week's State Of The Economy - What Is Ahead? - 01 July 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Jul 14, 2022

This Week's State Of The Economy - What Is Ahead? - 01 July 2022

As with the Mets and Yankees when they ran into the Astros over the last couple days, consumers staying power is showing signs of running out as inflation persists and confidence moves sharply lower. While consumers still have the ability to rely on their balance sheets to support spending, it's uncertain for how much longer they will continue to do so. Piling on the tough news was the weak ISM manufacturing report for June, which illustrates that we are not just seeing weakness out of the consumer, but investment spending as well.  On a more cheerful note, at least we have a three-day weekend to relax and go shopping.  Hit those sales…it’s the patriotic thing to do.




This Week's State Of The Economy - What Is Ahead? - 28 October 2022

Headline GDP continues to send mixed signals on the direction of the U.S. economy. During Q3, real GDP rose at a 2.6% annualized rate, ending the recent string of quarterly declines in growth registered in the first half of 2022.

This Week's State Of The Economy - What Is Ahead? - 28 April 2023

U.S. Economy expands but at a weak rate. Regional bank failures cause corporate investment spreads to widen again. House Republicans pass bills that affect the debt ceiling.

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

Manufacturing held up relatively well in November, despite a larger-than-expected dip in the ISM manufacturing survey. The nonfarm manufacturing survey rose slightly.

This Week's State Of The Economy - What Is Ahead? - 27 March 2020

The U.S. surpassed Italy and China with the most confirmed cases of COVID-19. Europe is still the center of the storm, with the total cases in Europe’s five largest economies topping 230,000.

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

Oil prices went negative for the first time in history on Monday as the evaporation of demand collided with a supply glut. In the past five weeks, 26.5 million people have filed for unemployment insurance, or more than one out of every seven workers.

This Week's State Of The Economy - What Is Ahead? - 10 November 2020

The U.S. election has come and gone, but we have not made any meaningful changes to our economic outlook, which continues to look for further expansion in the U.S. economy in coming quarters.

This Week's State Of The Economy - What Is Ahead? - 20 December 2019

President Trump became the third president in U.S. history to be impeached by the House, but removal by the Senate is highly unlikely. The House also passed the USMCA, which should be signed into law in early 2020.

This Week's State Of The Economy - What Is Ahead? - 23 February 2024

Stronger-than-expected inflation, underpinned by the mildly hawkish minutes from the January FOMC meeting, drove a move higher in mortgage rates.

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

Total payrolls rose by 263K in November, with the unemployment rate holding steady at 3.7% and average hourly earning rising by 0.6%.

This Week's State Of The Economy - What Is Ahead? - 30 September 2022

Just as I know the folks in Florida are resilient and will recover in time, incoming data indicate a slowing yet resilient economy.


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