U.S. Economic News

U.S. Economic News

November 16, 2018

U.S. Economic Indicators

Industrial production inched up 0.1% in October (up 4.1% Y/Y), after increasing 0.2% (revised) in September.  Capacity utilization edged down 0.1 point to 78.4 in October.  Fed Report

U.S. News

The Wall Street Journal reports that imports into U.S. seaports are surging as firms rush to stock inventories before new tariffs take effect.  The U.S.’ largest ports have seen double-digit growth in recent months, though many shipping executives expect the volume of goods to slow noticeably in early 2019 once the new tariffs take effect. WSJ

Richard Rubin of the Wall Street Journal writes that the new measure of inflation used by the IRS to adjust tax brackets, the standard deduction, and other items will cost Americans roughly $133 billion over a decade. The new measure of inflation rises more slowly than the old measure because it better takes into account consumers’ tendency to purchase cheaper goods or services as prices increase. WSJ

U.S. Economic News

U.S. Economic News

November 15, 2018

U.S. Economic Indicators

Retail sales rose 0.8% in October and were up 4.6% on the year.  Core sales — which excludes autos, gasoline, building materials, and food services — increased 0.3%. Census Bureau Report
 
Business inventories were up 0.3% in September and were up 4.4% from last year.  
Manufacturers’ sales increased 0.9% and were up 6.7% on the year. Census Bureau Report
 
Initial jobless claims rose 2,000 to 216,000 last week.
The four-week moving average increased 1,500 to 215,250.  DOL Report
 
The March Empire State Manufacturing Survey indicated that industrial activity in the New York region grew at a solid clip, as the headline index inched up 2 points to 23.3. 
The new orders index edged down to 20.4, the shipments index was little changed at 28.0, and the index for number of employees rose to 14.1; meanwhile, hours worked increased.  NY Fed Report

U.S. News

Neil Irwin of the New York Times writes that despite a booming economy the U.S. housing market is slumping. Irwin points to the fact that home prices have risen twice as fast as incomes in several major cities, which has priced many buyers out of the market now that mortgage rates have jumped above 5%. NYT

United States: Implications of the Midterm Elections for Economic Policy

United States: Implications of the Midterm Elections for Economic Policy

On November 6, 2018, Americans turned out in droves to vote in the midterm elections. The outcome of the 2018 midterms reflects schisms within the U.S. regarding president Trump and major issues facing the nation. In this analysis, Keybridge examines the results of the 2018 midterm elections and assesses potential implications for the U.S. economy.

Related Documents: Key Insight – Midterm Elections – November 2018

U.S. Economic News

U.S. Economic News

November 14, 2018

U.S. Economic Indicators

Consumer prices rose 0.3% in October (up 2.5% on the year).  The “core” CPI, which excludes food and energy, increased 0.2% in October and is up 2.1% on the year.  BLS Report

U.S. News

The Financial Times reports that the Trump administration has temporarily delayed a decision to impose tariffs on imported automobiles. Administration officials reportedly argued against the new tariffs because of the potential for both devastating economic consequences and the loss of key allies in the larger trade conflict with China. FT

According to the Wall Street Journal, Germany’s economy contracted for the first time since 2013 in the third quarter, potentially signaling a broader slowdown for the European and global economies. Growth slowed in Germany and other EU countries that rely heavily on exports, a sign that the U.S.’s confrontational trade policy is likely having adverse effects on global markets. WSJ

U.S. Economic News

U.S. Economic News

November 13, 2018

U.S. Economic Indicators

The NFIB Small Business Optimism Index edged down 0.5 point to 107.4 in October and remains near all-time highs, as five of the components declined, one rose, and four remained unchanged. The share of small business owners with one or more unfilled jobs is now at a 45-year high.  NFIB Report

U.S. News

Micah Maidenberg of the Wall Street Journal writes that rising construction costs and a tight labor market have slowed apartment-building activity. Data show that multifamily building permits have fallen every month since March, which may indicate that that recent oversupply issues have begun to abate and that rents may begin to rise in 2019. WSJ

The Wall Street Journal reports that U.S. enrollment of international students declined for a second year in a row, falling 6.6% in the 2017-2018 academic year. American universities and colleges have become increasingly dependent on revenue from international students as the number of Americans graduating from high school continues to fall, so the recent decline in international enrollment has financially strained institutions of higher learning. WSJ

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