Wells Fargo Weekly Economic & Financial Commentary – April 3, 2015
A Softer Start to 2015
- March employment data came in well below expectations. Nonfarm payrolls rose by 126,000, marking their smallest monthly gain since December 2013.
- Data from the manufacturing sector also came in weaker in March. The ISM manufacturing index fell 1.4 points to 51.5. Manufacturing payrolls and hours worked also declined.
- Motor vehicle sales bounced back solidly in March, suggesting that some of the first quarter’s weakness was weather related.
- The nation’s trade deficit unexpectedly improved in February, benefitting from sharply lower oil prices.
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Tags: economy
