This Week's State Of The Economy - What Is Ahead? - 22 April 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Apr 27, 2022

This Week's State Of The Economy - What Is Ahead? - 22 April 2022

Although it feels a little exclusionary since there aren’t special days set aside to celebrate the other planets, I’ll wish you a Happy Earth Day anyway.  Don’t expect a card this year.  While the Earth continues to thankfully revolve at a steady rate, rising mortgage rates appear to be slowing residential activity. Existing home sales fell 2.7% during March. Housing starts inched up 0.3% during March. However, single-family starts declined 1.7% during the month and single-family permits dropped 4.8%. The NAHB index fell two points to 77 in April. The Leading Economic Index (LEI) expanded 0.3% in March, reflecting slower-but-still positive economic growth.  See this week’s attached Commentary for more discussion of current economic trends.  Earth Day, on the other hand, was totally ignored.




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