U.S. Economic News

May 28, 2019

U.S. Economic Indicators

The Conference Board’s Consumer Confidence Index rose from 129.2 (revised) in April to 134.1 in May. Consumer Confidence continued to improve after rising in April, driven by employment gains and improved expectations for short-term business conditions. Conference Board Report

The FHFA House Price Index shows that U.S. house prices rose 0.1% in March and were up 4.9% from year-ago levels. Year-over-year house price changes were positive in all nine census divisions. FHFA Report

U.S. News

According to the Financial Times, a new report from the OECD found that U.S. imports from China have declined by 12.0% since the trade war began in the third quarter of 2018. The OECD figures show that U.S. imports from China experienced their largest recorded decline in the first quarter of this year, while the entire volume of global trade fell by an estimated 0.3%. FT

The Financial Times reports that the U.S.-China trade conflict is creating significant economic opportunities for Mexico-based manufacturers of products affected by the trade spat such as auto parts, electronics, and mobile phone components. The total value of Mexican exports to the U.S. recently overtook those from China, despite increased duties on many Mexican agricultural products. FT