Wells Fargo Weekly Economic and Financial Commentary – January 23, 2015

Wells Fargo Weekly

Economics Group: Weekly Economic & Financial Commentary – U.S Review

U.S. Manufacturers Facing Headwinds

• U.S. manufacturers were already struggling with a stronger U.S. dollar when the currency appreciated further against the Euro and Canadian dollar as central bankers in those regions made unexpected moves. The negative effects of oil are also starting to show up in regional manufacturing surveys.

• Housing starts improved in December with upward revisions to the prior month. Unfortunately, permits look a bit weaker, suggesting starts could see some payback in the coming months. Homebuilder sentiment did not add much optimism to the housing market recovery.

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Wells Fargo Weekly Economic and Financial Commentary – January 23, 2015