Wells Fargo Weekly Economic & Financial Commentary – May 15, 2015
Retail Sales Disappoint
- Retail sales came in flat in April, which was weaker than the consensus estimate. With retail sales now registering a soft reading in four of the past five months, many are now expecting another lackluster quarter of economic activity in Q2, all things equal.
- The Job Openings Labor Turnover Survey (JOLTS) also came in weak during the month. The report showed that job openings tumbled after reaching a 14-year high in February. However, the March reading appears to be in line with the downwardly revised nonfarm payrolls report. We continue to expect labor market gains in the coming months.
Click here to read the full Wells Fargo Weekly Economic & Financial Commentary for May 15, 2015.
Tags: economy