Source: Economics Group of Wells Fargo Bank, N.A.
Summary
A data deluge this morning gives the U.S. economy a new lease on life. Second quarter GDP, in hindsight, is stronger than it first appeared in light of robust consumer service spending and more robust business fixed investment. August durable goods orders suggest the cap-ex momentum carried into Q3. Jobless claims fell for both first-time filers and those re-filing for existing benefits.