Publications

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 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

U.S. News

U.S. Economic Indicators

The University of Michigan Consumer Sentiment Index fell 0.3 point to 98.3 in the preliminary November reading, and is down 0.2 point on the year. The Index of Consumer Expectations declined 0.6 point to 88.7, while the Current Economic Conditions Index edged up 0.1 point to 113.2. Report

The headline Producer Price Index (“PPI”) for final demand rose 0.6% in October and is up 2.9% since October of last year. The core — which removes the volatile prices of food, energy, and trade services — rose 0.2% and is up 2.8% year-over-year. BLS Report
 
The U.S. Census Bureau reports that wholesale merchant inventories rose 0.4% in September to $644.6 billion. Inventories were up 5.2% year-over-year. Census Report

U.S. News

Stephanie Yang and David Hodari of the Wall Street Journal report that U.S. oil entered a bear market Thursday. The price of Brent crude oil fell 0.8% to $70.11 per barrel as rising production and softening U.S. oil sanctions on Iran put downward pressure on oil prices. WSJ

U.S. Economic Indicators

Initial jobless claims declined 1,000 to 214,000 last week. The four-week moving average edged down 250 to 213,750.  DOL Report

U.S. News