U.S. Review
End of the Year Data Signal Stronger Q4 Growth
· Personal income rose a slight 0.2 percent in November with wage and salary income increasing 0.4 percent for the month. Personal spending continued to accelerate, rising 0.5 percent, driven, in part, by services spending.
· Durable goods orders rebounded in November, posting a 3.5 percent gain. Core capital goods shipments also climbed 2.8 percent for the month.
· The ISM Manufacturing Index reading was a bit softer in December but remained solidly in expansion territory. Both new orders and employment components rose on the month.
Global Review
Latin America in 2014: A Year for Those with a Discriminating Palate
· After a little more than a decade of strong economic growth brought about by strong Chinese and emerging market economic growth that pushed commodity prices to new heights, at least in nominal terms, the Latin American region has geared up for a soft landing of sorts.
· Our biggest concern with long-term growth prospects as well as long-term investment in the region is the prospect for some of these countries to stay the course.
Read the full report: Economic Research
Wells Fargo