US Demand Is Still Resilient, Even If GDP Doesn't Show It [Financial Post (Toronto, Ontario, Canada)]
Wells Fargo & Company (WFC)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The surprisingly sharp downshift in US economic growth last quarter masked otherwise resilient household demand and business investment that helped generate faster inflation. Gross domestic product advanced at a 1.6% annualized rate, below all economists' projections, with the biggest restraints stemming from less inventory accumulation and a wider trade gap. Article content Article content However, so-called final sales to private domestic purchasers, which strips out inventories, trade and government spending, rose at a 3.1% rate after adjusting for inflation. For three straight quarters, this key gauge of underlying demand has expanded at least 3%. That helps explain why the Federal Reserve's progress on tamping down inflation late last year has stalled. A closely watched measure of underlying price pressures advanced at a greater-than-expe
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WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 5/3/24 - Form 424B2
- 5/3/24 - Form 424B2
- 5/3/24 - Form 424B2
- WFC's page on the SEC website