By: Bloomberg Finance L.P. and Wells Fargo Economics

Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts.

The most significant changes in expectations came from:

  • Personal Spending increasing by 0.2%
  • Nonfarm Payrolls declining by 14% from 187K to 160K turning negative from 4.6% to -4.4%
  • Total Vehicle Sales declining  by 0.8% from 15.74M to 15.6M

These changes in expectations come following this weeks Durable Goods report (-5.2% MoM and +3.8% YoY) and New Single-Family Home Sales increasing 4.4%, up 31.5% YoY.