Wells Fargo Weekly Economic & Financial Commentary – June 5, 2015

Wells Fargo Weekly Economic and Financial Commentary for June 5, 2015:

Payrolls Suggest Weakness Should Be Temporary

· Payrolls jumped by 280,000 in May, with stronger average hourly earnings, keeping a September rate hike on the table.

· Income gains remained strong in April, but consumer spending was merely flat over the month, pushing core inflation to a paltry 1.2 percent year-over-year rate.

· Factory orders contracted in April, but the ISM manufacturing index bounced back in May, suggesting some of the earlier weakness may finally be behind us.

· After port disruptions subsided, the April trade deficit narrowed by nearly $10 billion.

To read the full commentary, please click here.

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