U.S. Economic News

December 7, 2018

U.S. Economic Indicators

The U.S. economy added 155,000 jobs in November, below consensus. The unemployment rate held steady at 3.7%, the labor force participation rate remained at 62.9%, and average hourly earnings annual growth was unchanged at 3.1%. BLS Report

The U.S. Census Bureau reports that wholesale merchant inventories rose 0.8% in October to $652.1 billion. Inventories were up 6.9% year-over-year. Census Report

The University of Michigan Consumer Sentiment Index held steady at 97.5 in the preliminary December reading, and is up 1.6 points on the year. The Index of Consumer Expectations declined 2.0 points to 86.1, while the Current Economic Conditions Index increased 2.9 points to 115.2. Report

U.S. News

The Wall Street Journal reports that American importers are paying record amounts in customs duties as additional tariffs take effect. As tariff costs rise, companies will have to bear the costs, negotiate price reductions with foreign suppliers, or pass the higher costs to consumers. WSJ

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