U.S. Economic News
November 18, 2019
U.S. Economic Indicators
The NAHB Housing Market Index edged one point lower to 70 in November. Conditions for single-family home builders remain positive, helped by low mortgage rates and continued job growth. NAHB Report
U.S. News
Paul Hannon reports for the Wall Street Journal that global cross-border flows of goods are likely to stay weak as 2019 draws to a close, according to the WTO’s latest leading indicator for trade flows. Although there are signs of a pickup in export orders, container shipping, and auto shipments, the improvements have been offset by continued weakness in airfreight and raw materials and electronic components shipments. WSJ
The Wall Street Journal reports that according to some economists, labor market churn – the shuffle of workers between jobs and employers – may be a better predictor of wages, inflation, and productivity than the unemployment rate, possibly explaining why wages have risen less quickly during the current expansion than official unemployment figures would suggest. Wage growth and inflation may stay soft even as labor markets continue to tighten if workers are more reluctant to switch jobs today than in the past. WSJ