Economics Group: Weekly Economic & Financial Commentary
U.S. Review
Staying the Course
– The FOMC announced an end to its most recent round of asset purchases this week. The move comes as economic growth remained strong in the third quarter, advancing at a
3.5 percent annualized rate.
– Consumer confidence rose 5.5 points to the highest level in seven years in October, but households remain cautious in spending. Consumer spending fell 0.2 percent in September, while incomes registered the smallest monthly gain in nearly a year.
– Durable goods orders unexpectedly fell in September, but purchasing managers’ indices remain at fairly high levels.
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Wells Fargo Weekly Economic & Financial Commentary — October 31, 2014
Tags: economy