Nomura

US Economic Weekly Update

Our weekly update of the developments and key themes around the US economy

  • We expect another month of core PCE deflation, and exceptionally weak durable goods orders, but we also expect April personal income to be higher because of fiscal support.
  • We expect a very deep recession due to COVID-19 and the Fed to implement its plans supporting a range of financial markets as the labor market remains extremely weak.
  • Our overview highlights the key releases of US economic market data.

US Economic Weekly Key Insights

  • US-China relations continue to deteriorate with developments in Hong Kong returning to focus.
  • Actions taken by Congress and the Commerce Department highlight the complicated interplay between technology, trade and human rights and raise the risk of further US-China escalation.
  • Chair Powell’s comments before Congress suggest we may receive additional detail on the Fed’s credit program start dates this week.
  • On the data front, we look for another month of core PCE deflation and a fiscal stimulus-driven surge in personal income in April.

Read our full US Economic Weekly report here.



US Markets - Economic Data and Events Calendar

Contributor

  • Lewis Alexander

    Chief US Economist

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