Wells Fargo Weekly Economic & Financial Commentary – July 10, 2015
Economic Growth in the U.S. Moving Along
- The ISM nonmanufacturing composite index rose in June and continues to show an economy that is relying on improvement in the service sector to boost overall activity.
- Job openings in May were consistent with the moderate gain in nonfarm payrolls. Hires fell during the month, while quits were flat. Labor market indicators are not seeing huge gains, but are steadily improving which will keep the Fed on track for a rate hike this year.
- The trade balance widened during the month. Slow global growth and a strong dollar suggest net exports will modestly detract from economic growth for the foreseeable future.
Click here to read the full Wells Fargo Weekly Economic & Financial Commentary for July 10, 2015.
Tags: economy