Wells Fargo Weekly Economic & Financial Commentary – May 29, 2015
Terra Firma
- This week’s revision to first quarter GDP figures showed that the weakness in the first three months of the year was worse than initially reported as real GDP declined at a 0.7 percent annualized rate.
- Economic indicators for the second quarter were mixed initially, but a steady drumbeat of better data more recently tells us that after a soft start to the year, the economy has found firm ground. With each upside surprise, the Fed’s assessment of Q1 weakness as “transitory” is looking more accurate.
Click here to read the full Wells Fargo Weekly Economic & Financial Commentary for May 29, 2015.
Tags: economy