Economics

Pressure Gauge

 

Source: Source: U.S. Department of Commerce, Bloomberg Finance L.P., Taiwan Ministry of Finance, Institute for Supply Management (ISM), Drewry, U.S. Department of Labor, National Federation of Independent Business (NFIB), Indeed.com and Wells Fargo Economics

Updated: January 27, 2023

Economics Group

Jay H. Bryson, Ph.D.

Chief Economist

704-410-3274

Jay.Bryson@wellsfargo.com

Sam Bullard

Senior Economist

704-410-3280

Sam.Bullard@wellsfargo.com

Nick Bennenbroek

International Economist

212-214-5636

Nicholas.Bennenbroek@wellsfargo.com

Tim Quinlan

Senior Economist

704-410-3283

Tim.Quinlan@wellsfargo.com

Sarah House

Senior Economist

704-410-3282

Sarah.House@wellsfargo.com

Azhar Iqbal

Econometrician

212-214-2029

Azhar.Iqbal@wellsfargo.com

Charlie Dougherty

Economist

212-214-8984

Charles.Dougherty@wellsfargo.com

Michael Pugliese

Economist

212-214-5058

Michael.D.Pugliese@wellsfargo.com

Brendan McKenna

International Economist

212-214-5637

Brendan.Mckenna@wellsfargo.com

Jackie Benson

Economist

704-410-4468

Jackie.Benson@wellsfargo.com

Shannon Seery

Economist

332-204-0693

Shannon.Seery@wellsfargo.com

Nicole Cervi

Economic Analyst

704-410-3059

Nicole.Cervi@wellsfargo.com

Jessica Guo

Economic Analyst

212-214-1063

Jessica.Guo@wellsfargo.com

Karl Vesely

Economic Analyst

704-410-2911

Karl.Vesely@wellsfargo.com

Patrick Barley

Economic Analyst

704-410-1232

Patrick.Barley@wellsfargo.com

Jeremiah Kohl

Economic Analyst

704-410-1437

Jeremiah.J.Kohl@wellsfargo.com

Coren Burton

Administrative Assistant

704-410-6010

Coren.Burton@wellsfargo.com

All estimates/forecasts are as of 1/27/2023 unless otherwise stated. 1/27/2023 10:43:51 EST.

Required Disclosures

This report is produced by the Economics Group of Wells Fargo Bank, N.A. (“WFBNA”). This report is not a product of Wells Fargo Global Research and the information contained in this report is not financial research. This report should not be copied, distributed, published or reproduced, in whole or in part. WFBNA distributes this report directly and through affiliates including, but not limited to, Wells Fargo Securities, LLC, Wells Fargo & Company, Wells Fargo Clearing Services, LLC, Wells Fargo Securities International Limited, Wells Fargo Securities Europe S.A., and Wells Fargo Securities Canada, Ltd. Wells Fargo Securities, LLC is registered with the Commodity Futures Trading Commission as a futures commission merchant and is a member in good standing of the National Futures Association. WFBNA is registered with the Commodity Futures Trading Commission as a swap dealer and is a member in good standing of the National Futures Association. Wells Fargo Securities, LLC and WFBNA are generally engaged in the trading of futures and derivative products, any of which may be discussed within this report.

This publication has been prepared for informational purposes only and is not intended as a recommendation offer or solicitation with respect to the purchase or sale of any security or other financial product nor does it constitute professional advice. The information in this report has been obtained or derived from sources believed by WFBNA to be reliable, but has not been independently verified by WFBNA, may not be current, and WFBNA has no obligation to provide any updates or changes. All price references and market forecasts are as of the date of the report. The views and opinions expressed in this report are not necessarily those of WFBNA and may differ from the views and opinions of other departments or divisions of WFBNA and its affiliates. WFBNA is not providing any financial, economic, legal, accounting, or tax advice or recommendations in this report, neither WFBNA nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this report and any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. WFBNA is a separate legal entity and distinct from affiliated banks and is a wholly owned subsidiary of Wells Fargo & Company. © 2023 Wells Fargo Bank, N.A.

Important Information for Non-U.S. Recipients
For recipients in the United Kingdom, this report is distributed by Wells Fargo Securities International Limited ("WFSIL"). WFSIL is a U.K. incorporated investment firm authorized and regulated by the Financial Conduct Authority (“FCA”). For the purposes of Section 21 of the UK Financial Services and Markets Act 2000 (“the Act”), the content of this report has been approved by WFSIL, an authorized person under the Act. WFSIL does not deal with retail clients as defined in the Directive 2014/65/EU (“MiFID2”). The FCA rules made under the Financial Services and Markets Act 2000 for the protection of retail clients will therefore not apply, nor will the Financial Services Compensation Scheme be available. For recipients in the EFTA, this report is distributed by WFSIL. For recipients in the EU, it is distributed by Wells Fargo Securities Europe S.A. (“WFSE”). WFSE is a French incorporated investment firm authorized and regulated by the Autorité de contrôle prudentiel et de résolution and the Autorité des marchés financiers. WFSE does not deal with retail clients as defined in the Directive 2014/65/EU (“MiFID2”). This report is not intended for, and should not be relied upon by, retail clients.

SECURITIES: NOT FDIC-INSURED - MAY LOSE VALUE - NO BANK GUARANTEE