U.S. Economic News

November 5, 2018

U.S. Economic Indicators

The ISM Non-Manufacturing Index dropped 1.3 percentage points to 60.3 in October. The New Orders Index edged down 0.1 percentage point to 61.5 while the Employment Index fell 2.7 percentage points to 59.7. ISM Report

U.S. News

The Wall Street Journal reports that American firms have managed the effects of U.S. tariffs thus far by raising prices or adjusting their supply chains but face worsening prospects next year. Firms in industries ranging from computer chips to heavy machinery say that sales have not yet suffered noticeably due to tariff activity, though the combination of slowing global growth and escalating trade conflicts would have a larger impact in 2019. WSJ

According to the Wall Street Journal, the U.S. has issued waivers to eight countries to exempt them from new sanctions on Iranian oil. The waivers, which allow temporary imports of Iranian oil, were issued to China, India, Italy, Greece, Japan, South Korea, Taiwan, and Turkey and may help alleviate some of the supply pressures seen earlier this year. WSJ

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