Economics Group: Weekly Economic & Financial Commentary
U.S. Review
Blockbuster Payrolls Set the Tone
- Nonfarm payrolls surged 321,000 in November, as the workweek and average hourly earnings picked up. The employment report, coupled with lower gas prices, bodes well for consumption in the fourth quarter.
- The ISM manufacturing and non-manufacturing indices remained firmly in expansion territory, with solid gains in the new orders and export orders components.
- The U.S. trade deficit narrowed slightly in October, as export growth outpaced imports, though this comes after a sizable widening of the deficit in the previous month.
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Wells Fargo Weekly Economic & Financial Commentary — December 5, 2014
Tags: economy