Wells Fargo Weekly Economic & Financial Commentary
2015 Ends With a Whimper
- GDP in the final quarter of 2015 slowed to a 0.7 percent annualized pace on slower consumer spending, a bigger drag from trade and a further correction in inventories. ·
- Durable goods orders fell 5.1 percent in December, as weakness in the manufacturing sector intensified. ·
- Shrugging off financial market volatility, consumer confidence rose 1.8 points to 98.1 in January. ·
- The ECI rose 0.6 percent in the fourth quarter, keeping the year-over-year rate unchanged at 2.0 percent. Wage growth continues to advance more quickly than benefit costs.
