U.S. - Fundamentals Continue to Support Festive Holiday Spending
- Despite easing for the fourth consecutive month, confidence still remains near its cycle high in November as consumers continue to focus on their own economic prospects, while discounting political drama out of Washington D.C. and concerns from abroad.
- The health of the labor market, low gasoline prices and a stock market near record highs continue to underpin our expectations for solid consumer spending growth in the fourth quarter, albeit at a substantially slower pace than the robust rates seen in the prior two quarters.
Global Review - Boris Johnson Commands Lead in U.K. Polls
- 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. The current margin of support points to a parliamentary majority for the Conservatives, although much can still change over the next two weeks leading into the election.
- It was a quiet start to the week for international data releases. Sentiment figures from Germany rebounded very slightly but still point to especially sluggish economic growth, while revisions to Mexican GDP figures showed the economy contracted for three straight quarters starting in Q4-2018.
This Week's State Of The Economy - What Is Ahead? - 04 March 2022
Wells Fargo Economics & Financial Report / Mar 08, 2022
February\'s employment data showed the economy had strong momentum, but that seems pretty dated now with Russia\'s invasion of Ukraine and the Fed\'s shift to a more hawkish tone on monetary policy.
This Week's State Of The Economy - What Is Ahead? - 31 January 2025
Wells Fargo Economics & Financial Report / Feb 03, 2025
The U.S. economy is growing at a healthy clip. Real GDP expanded by 2.3% in the fourth quarter, bringing the annual growth rate to 2.8% in 2024. For context, the economy grew at an average annual rate of 2.4% during the 2010-2019 economic expansion.
This Week's State Of The Economy - What Is Ahead? - 18 October 2024
Wells Fargo Economics & Financial Report / Oct 21, 2024
Retail sales came in stronger than expected in September, industrial production was weaker than expected and residential construction softened.
This Week's State Of The Economy - What Is Ahead? - 12 April 2024
Wells Fargo Economics & Financial Report / Apr 18, 2024
The March consumer price data dominated the economic discussion this week and are the latest to support that the timing and degree of Fed easing will be later and smaller than many of us previously expected.
This Week's State Of The Economy - What Is Ahead? - 30 April 2021
Wells Fargo Economics & Financial Report / May 18, 2021
The gain in output leaves the level of real GDP just a stone\'s throw below its pre-COVID Q4-2019 level (see chart).
This Week's State Of The Economy - What Is Ahead? - 28 October 2022
Wells Fargo Economics & Financial Report / Oct 31, 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? - 23 August 2024
Wells Fargo Economics & Financial Report / Aug 29, 2024
Home sales also have been slow to respond. Existing home sales inched up during July alongside a modest dip in mortgage rates.
This Week's State Of The Economy - What Is Ahead? - 20 January 2023
Wells Fargo Economics & Financial Report / Jan 20, 2023
The housing sector has borne the brunt of the Fed\'s efforts to slow the economy, and this week\'s data showed the industry continues to reel.
This Week's State Of The Economy - What Is Ahead? - 17 June 2022
Wells Fargo Economics & Financial Report / Jun 20, 2022
After last week\'s stronger-than-expected CPI, less surprising was the 75 point rate increase put forth by the Fed.
This Week's State Of The Economy - What Is Ahead? - 29 January 2021
Wells Fargo Economics & Financial Report / Feb 09, 2021
Economic data came in largely as expected this week and suggest continued economic recovery.
