Wells Fargo Weekly Economic & Financial Commentary – May 8, 2015
A Softer Bounce Back in the Second Quarter
- Nonfarm payrolls rose 223,000 in April, with the unemployment rate falling to 5.4 percent. The continued moderation in the pace of job growth suggests that second quarter economic growth may not see the same sharp turn around observed last year.
- International trade data for March showed a large increase in the trade deficit, which will likely pull the first quarter GDP reading into negative territory.
- Factory orders data remained mixed, suggesting only a moderate pace of business investment in the second quarter.
Click here to read the full Wells Fargo Weekly Economic & Financial Commentary for May 8, 2015.
Tags: economy