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.