Wells Fargo Weekly Economic & Financial Commentary – August 28, 2015
Markets Whipsawed, but the U.S. Economy Is Stable
- Fears that economic activity in China is much weaker than reported rattled global financial markets during the week. The VIX, which gauges equity market volatility, jumped to its highest level since late-2011. At the same time, economic data released during the week continued to show that the U.S. economy is on solid footing.
- Second-quarter real GDP growth in the U.S. was upwardly revised from a 2.3 percent pace in the advance estimate to a more-than-expected 3.7 percent annual rate. Consumer and government spending as well as business and residential investment were revised higher in the second estimate.
Click here to read the full Wells Fargo Weekly Economic & Financial Commentary for August 28, 2015.
Tags: economy