Wells Fargo Weekly Economic & Financial Commentary – February 27, 2015 The Hill Is Alive with the Sound of Yellen Yellen’s testimony to Congress this week did not change our outlook for a rate hike in June, as the Fed sees recent weakness in inflation as transitory. Consumer prices fell again in January, though much […]
Continue ReadingUS Outlook Report: Keeping the Faith on the U.S. Economy The U.S. economy continues to perform in-line with our forecasts. U.S. real GDP growth cooled slightly to 2.2 percent in the fourth quarter, but appears to be growing at around a 2.4 percent annualized pace in the first quarter. However, worse-than-normal seasonal weather in much […]
Continue ReadingFebruary 18, 2015 STEM tours show students high-tech manufacturing careers in their backyard Ventura County students get firsthand look at needed high-skill jobs February 12, 2015 Laura Tyson & Lenny Mendonca: Inside the Training Revolution Public-private work will be key to keeping up with new technology when building up California’s workforce. February 11, 2015 Fresno […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – February 20, 2015 Oil Sludge Slowing Economic Engine? The housing market recovery continues to plod along at a less than impressive pace, with housing starts and building permits falling shy of expectations in January. Headline PPI fell further into negative territory, decreasing 0.8 percent as energy prices […]
Continue ReadingU.S. Outlook Report: Deflation Arrives in the United States We have been advertising it for a while now, but the January price data are finally coming in and the U.S. price deflation is as dramatic as I thought. Producer prices for January dropped 0.8%, twice as fast as the consensus of economists expected, and the […]
Continue ReadingCalifornia’s robust expansion continued in 2014 with improving labor market conditions, rising personal incomes, a strong housing sector recovery, and a well-balanced state budget. Nonfarm payrolls in California grew faster than the national average during the last three years, surpassing the state’s pre-Great Recession peak by 194,100 jobs in December 2014. The state added 320,300 […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary Where Are the Gasoline Savings Going? · Retail sales fell more than expected in January, declining 0.8 percent. While price-related declines at gasoline stations weighed heavily on the headline, sales excluding gas were flat on the month. · The labor market showed further signs of firming, with the […]
Continue ReadingNew report from CA Fwd asks: HOW WILL CALIFORNIA PAY FOR TOMORROW? READ THE REPORT READ THE REPORT CA Fwd has released the first chapter of “Financing the Future: How will California pay for tomorrow?“ — exploring some of the investments that California must make to support sustainable, prosperous and equitable growth, and the options […]
Continue ReadingBank of the West US Outlook Report for February 6, 2015 Doomsday newspaper articles are being written about deflation these days. Most look across the pond toward Europe and extrapolate that the United States is next in line to suffer from stagnant growth and declining prices. While we are forecasting deflation in both Europe and […]
Continue ReadingInstant Analysis of Today’s Employment Report for January Job Creation Exceeded Expectations in January; +257K vs. Consensus Exp. +228K Wage growth Accelerates- Average Hourly Earnings up +0.5%; (+2.2% Y-o-Y) November and December Job Numbers Revised Up a Net +147K Unemployment Rate Rises 0.1% to 5.7% as Labor Force Participation Improves Job Growth in All Major […]
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