Wells Fargo Weekly Economic and Financial Commentary, May 6, 2013

  • by BPC Staff
  • on May 6, 2013

2013 Economic Growth: Soft in the Middle


· The April employment report indicated that nonfarm payrolls rose 165,000 and the unemployment rate edged slightly lower to 7.5 percent.

· Personal income and spending data for March indicated that consumers continued to spend even with only modest increases in income growth.

· The ISM Manufacturing Index fell to 50.7 in April from 52.0 in March. Even with the weakness in the headline reading, the new orders component edged higher for the month.

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