Wells Fargo Economics
Housing Starts Inch Higher in April, But Permits Signal Continued Weakness in Construction Outlook
Residential construction activity in the United States showed a modest gain in April, with total housing starts rising 1.6 percent, according to a...
U.S. CRE Market Finds Its Footing in Early 2025 as Transaction Activity and Prices Stabilize
The U.S. commercial real estate (CRE) market began 2025 with renewed momentum, signaling signs of stabilization after a volatile couple of years. According...
Labor Market Holds Firm in April, But Cracks Emerge Amid Policy Uncertainty
The U.S. labor market demonstrated continued resilience in April, with nonfarm payrolls rising by 177,000, according to the latest Wells Fargo Economics report....
Construction Spending Declines in March as Economic Pressures Mount
Construction spending in the United States fell more than expected in March 2025, highlighting the mounting strain that high interest rates and macroeconomic...
Animal Spirits Index, Measuring Confidence, Hope, Fear, and Pessimism Turns Negative in March Amid Rising Trade Uncertainty
The Animal Spirits Index (ASI) in the United States slipped back into negative territory in March 2025, reaching -0.34, according to the latest...
New Tariffs Set to Raise Construction Costs Amid Shifting Trade Policy
The U.S. construction industry is bracing for higher costs in 2025 as newly imposed tariffs are expected to exert upward pressure on building...
Small Business Optimism Falls in March as Tariff Uncertainty Weighs on Outlook
Small business confidence in the United States continued to slide in March 2025, with the NFIB Small Business Optimism Index falling for a...
Widening Trade Gap Poised to Dent Q1 GDP Amid Import Surge and Tariff Pressures
The U.S. trade deficit narrowed modestly in February 2025 but remains historically wide, raising fresh concerns about the trajectory of first quarter GDP...
Strong Q4 Profits Mask Growing Trade Threat to U.S. Economy
The U.S. economy ended 2024 on a stronger note than initially estimated, with fourth-quarter GDP growth revised up slightly to a 2.4 percent...
Job Openings Decline in February as Labor Market Uncertainty Grows
The U.S. labor market showed signs of softening in February, as job openings declined and economic uncertainty continued to weigh on hiring decisions....
Construction Sector Sees Housing Starts Rebound in February But Underlying Challenges Persist
The residential construction sector showed signs of resilience in February as housing starts rebounded sharply following a weather-related setback in January. According to...
Retail Sales Struggle in February Amid Consumer Spending Concerns
Retail sales in the United States posted only a modest gain in February, rising just 0.2 percent, according to the latest report from...
