Wells Fargo Weekly Economic and Financial Commentary – January 30, 2015

Wells Fargo Weekly

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

Mixed Signals on the Domestic Front

• The U.S. economy grew at a 2.6 percent annualized pace in the final quarter of 2014. The outturn was weaker than expectations. Equipment spending fell at a 1.9 percent annualized pace as businesses put cap-ex plans on hold, in part, amid the steep drop in oil prices.

• The fourth decline in five months for durable goods orders this week offers no reason to expect investment spending to pick up meaningfully any time soon.

• On the upside, housing and consumer confidence figures reported this week highlight bright spots for future growth.

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Wells Fargo Weekly Economic and Financial Commentary – January 30, 2015