This Week's State Of The Economy - What Is Ahead? - 20 May 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/May 29, 2022

This Week's State Of The Economy - What Is Ahead? - 20 May 2022

U.S. retail sales topped expectations in April, while industrial production also grew more rapidly than economists expected. Data on housing starts, home sales and homebuilder sentiment, however, showed tentative signs of cooling.  Aside from economics, this is also the time of year when a fresh crop of college graduates arrives on the scene to lend their efforts to moving the economy forward.  Congratulations to them and their financial supporters (i.e. parents) as well as the graduating high school seniors who will now be entering that next phase of their education, whether in college, the military or the “school of life”.  Congrats to them as well.




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The gain in output leaves the level of real GDP just a stone\'s throw below its pre-COVID Q4-2019 level (see chart).

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