U.S. Economic News
November 6, 2019
U.S. Economic Indicators
Nonfarm business sector labor productivity fell 0.3% in Q3 but was up 1.4% compared to last year. Hours worked increased 2.4% and unit labor costs rose 3.6%. BLS Report
U.S. News
The Wall Street Journal reports that U.S. imports of consumer goods including cellphones, toys, and apparel fell sharply in September, possibly signaling that slowing global growth is spilling into the U.S. economy. Overall imports of consumer goods fell by 4.4%, potentially related to September’s hike in U.S. tariffs on $11 billion worth of Chinese tools, apparel, and electronics. WSJ
According to the Washington Post, experts’ fears of an impending U.S. recession have eased since August as many economic indicators remain on solid footing, and there is new talk of a trade truce between the U.S. and China. The mood of analysts and business leaders has moderated to a cautiously optimistic wait-and-see attitude, as observers await the outcome of trade talks with China and whether or not companies start to pull back on hiring. WaPo