Wells Fargo Economics
Durable Goods Orders Rise 0.5% in September as Shipments Point to Solid Q3 Capex Momentum
Core capital goods orders climb 0.9 percent, supporting Wells Fargo Economics’ 6 percent annualized equipment-spending estimate A year defined by uneven business investment...
Retail Sales Rose Just 0.2% in September as Control Group Slips 0.1%
Wells Fargo Economics says a soft September keeps holiday spending forecasts intact but leaning toward the lower end of the 3.5 percent–4 percent...
Consumer Confidence Falls as Job Market Concerns Overshadow Lower Gas Prices
November reading marks second-lowest level in four years while labor differential continues decline American consumers are growing increasingly uneasy about their economic prospects,...
Data Center Construction Spending Surges 26% YoY to $41B as AI Infrastructure Build-Out Accelerates
Wells Fargo Economics report shows investment nearly quadrupled since 2021, though growth rate moderates from January’s 44 percent peak Data-center development, once a...
Existing Home Sales Rise 1.2% in October as Lower Mortgage Rates Offer Modest Relief
Inventory edges higher, demand firms, and the Midwest leads the month’s regional gains A slight easing in borrowing costs this fall has been...
September Jobs Report Shows 119,000 Nonfarm Payroll Gain as Unemployment Climbs to 4.4%
Delayed data reveals continued labor market softening, leaving Fed’s December rate decision uncertain The long-delayed September payroll numbers arrived with an unusual sense...
Construction Spending Posts Third Monthly Gain as Residential Activity Rises 0.8% in August
Home improvement drives residential growth while nonresidential sector continues downward trend despite data center resilience After several months of subdued activity across building...
Commercial Real Estate Construction Posts First Quarterly Gain Since 2022
Office and industrial starts drive Q3 2025 uptick after three years of decline The commercial real estate development sector is showing tentative signs...
Small Business Optimism Index Falls to 98.2 as Labor Quality Concerns Surge to 27%
Wells Fargo report shows hiring stable but sales and profits deteriorating through October American small businesses are confronting a mix of moderating inflation...
U.S. Service Sector Shows Resilience With October ISM Index Rising to 52.4 Despite Price Pressures
Business activity and new orders rebound while employment remains weak and inflation concerns mount The American service sector demonstrated continued expansion in October,...
Manufacturing Slump Deepens to Eight Months as Industry Index Remains Below Expansion Threshold in October
Tariff uncertainty shifts from speculation to concrete business impact American manufacturers are confronting mounting challenges as the sector’s contraction enters its eighth consecutive...
Retail Real Estate Shows Recovery Signs with 5MM SQFT of Net Absorption in Q3
Sector rebounds from rare back-to-back declines as consumer spending resilience bolsters holiday outlook The commercial retail sector is demonstrating renewed strength as the...
