Wells Fargo Weekly Economic & Financial Commentary – April 10, 2015
Not as Bad as It Looks
- The ISM non-manufacturing index edged down 0.4 points in March, but, at 56.5, remains firmly in expansion territory. The non-manufacturing index has held up well compared to the manufacturing index, suggesting that the headwinds from the stronger dollar and lower mining investment have had little effect on the significantly larger service sector.
- Labor market data released this week gave no indication that conditions have softened to the degree suggested by last week’s payroll report. Job openings climbed to a 14-year high in February, while another low initial jobless claims print brought the four-week average to its lowest level since 2000.
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Tags: economy
