Home Price Appreciation Picks Up
Real Estate Spotlight Source: Economics Group of Wells Fargo Bank, N.A.Summary Home prices are once again on the rise. The Case-Shiller national home price index climbed 0.4% in November, the fourth straight monthly increase. The recent streak of gains represents a rebound from the string of monthly declines in the spring and summer of 2025. […]
January Employment Preview: Modest Lift to Hiring, Trend Still Soft
Source: Economics Group of Wells Fargo Bank, N.A.Summary READ FULL ARTICLE
Trade Reversal Leads to Sharp Widening in November Trade Balance
Source: Economics Group of Wells Fargo Bank, N.A.Summary The U.S. trade deficit widened by nearly $30 billion in November, reversing the prior two months of narrowing amid some payback in gold-related exports and large moves in pharmaceuticals. Cutting through month-to-month volatility and high-tech related demand, underlying imports are tracking to be down last year. READ […]
The 2026 Economic Outlook with Michael Feuz
What middle-market business leaders and dealmakers can expect from the year ahead Michael Feuz, economist with ITR Economics, is back to share what middle-market business leaders and dealmakers can expect in the year ahead. From interest rates and inflation to deal flow and AI, Feuz discusses the biggest trends that will shape the economy in […]
ISM Manufacturing Rises to Highest Since 2022
Source: Economics Group of Wells Fargo Bank, N.A. Summary The 4.7 point jump in the ISM manufacturing index is consistent with our call for a modest broadening in capital expenditures and manufacturing activity, though some year-end replenishing amid trade uncertainty could be exaggerating momentum. Prices at 59.0 is not terribly encouraging for the efforts to […]
Labor Market Jitters Are Shaking Consumer Confidence
Source: Economics Group of Wells Fargo Bank, N.A.Summary The share of consumers saying jobs are “hard to get” rose to a post-pandemic high. That took the labor differential (plentiful minus hard-to-get) to a post-pandemic low. Fold in write-in responses about cost of living and wars, and January consumer confidence fell to its lowest in a […]
U.S. Population Growth Slowed in 2025
Reduced Immigration Weighed on Population Growth Across the Nation Source: Economics Group of Wells Fargo Bank, N.A. Summary U.S. population growth softened in 2025, dipping to 0.5% from 1.0% in 2024. READ FULL ARTICLE
U.S. Economic Outlook: January 2026
Source: Economics Group of Wells Fargo Bank, N.A. Powell’s Final Act READ FULL ARTICLE
Home Builder Sentiment Retreats to Start 2026
Real Estate Spotlight Source: Economics Group of Wells Fargo Bank, N.A.Summary Home builder sentiment remains fairly downbeat despite the recent easing in mortgage rates. The NAHB housing market index (HMI) fell two points to 37 in January, ending a three-month streak of gains. We note that 75% of survey responses arrived before January 7th, ahead […]
Household Spending Resilient, Income Is the Rub—For Now
Source: Economics Group of Wells Fargo Bank, N.A.Summary Consumer spending remains resilient according to the shutdown-delayed data for October and November. Today’s data suggest real PCE could expand nearly 3% in the fourth quarter, carrying forward the third quarter’s momentum. Yet the trend in income growth remains soft. Real disposable income moderated to 1.0% year-over-year […]