Wells Fargo Weekly Economic and Financial Commentary, May 17, 2013

  • by BPC Staff
  • on May 17, 2013

A Mixed Bag for Q2

· Economic data this week was rather mixed, with positive signs out of the consumer, but faltering signs out of the industrial sector and housing in April.

· Retail sales increased 0.1 percent in April; however, the headline number understates the strength in sales.  Declining prices at the pump drove nominal retail sales lower. Excluding sales at gasoline stations, retail sales were up 0.7 percent.

· Weak global growth is weighing on the industrial sector.  Manufacturing output fell for the second consecutive month in April.

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