Economics Group: Weekly Economic & Financial Commentary
U.S. Review
Economic Acceleration But Restraint Persists
- The economy continues to show signs of acceleration this week, with the ISM Manufacturing Index jumping to its highest level since December 2005.
- Factory orders rebounded in June, confirming recent reports of a stronger manufacturing sector. The report suggests that business spending has picked up and should remain strong, as unfilled orders pile up.
- On the downside, nonfarm productivity growth in Q2 could not make up for the steep fall in the prior quarter, while revolving consumer credit growth has remained modest.
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Wells Fargo Weekly Economic & Financial Commentary – August 8, 2014
Tags: economy