Wells Fargo Weekly Economic and Financial Commentary, August 23, 2013

  • by BPC Staff
  • on August 26, 2013

Signals of Stronger Growth and Fed Tapering


· Existing home sales rose more than expected in July, but some of the luster was lost from when the new home sales report posted a 13.4 percent drop for the month.

· Minutes from the July FOMC meeting confirmed the timeline for the Fed to begin tapering asset purchases later this year.

· The Leading Economic Index continued to indicate stronger economic growth in the second half of the year.  The overall index jumped from a flat reading in June to 0.6 percent in July.

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