Wells Fargo Weekly Economic and Financial Commentary

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In this issue:

Strong Q3 Growth Sets Up a Weak Fourth Quarter

· Third quarter economic growth was revised higher this week to 2.7 percent from an originally reported 2.0 percent. Increased inventory building, along with stronger     support from the trade balance, helped to edge headline growth higher.

· October durable goods orders came in flat, while September’s increase was revised downward. Core capital goods orders picked up slightly for the month.

· Personal income in October was unchanged, while nominal personal consumption fell 0.2 percent.