Wells Fargo Weekly Economic & Financial Commentary – March 27, 2015

It’s Shaping Up to Be a Soft Quarter

· Housing market data looked better this week with both existing and new home sales rising in February.

· Consumer prices rose 0.2 percent in February as oil prices edged higher for the month.

· Durable goods orders pulled back sharply in February, but even more concerning was the decline in core capital goods orders and shipments, which suggests less business investment in the first quarter.

· The third look at fourth-quarter GDP showed the economy expanded at a 2.2 percent pace identical to the second estimate.
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