U.S. Economic News
April 3, 2019
U.S. Economic Indicators
The ISM Non-Manufacturing Index declined 3.6 percentage points to 56.1 in March. The New Orders Index fell 6.2 percentage points to 59.0, while the Employment Index increased 0.7 percentage point to 55.9. ISM Report
The ADP Employment Report shows that private-sector employment increased by 129,000 jobs in March, below expectations of 165,000. The services sector added 135,000 jobs, while the goods-producing sector lost 6,000 jobs. ADP Report
U.S. News
According to the Wall Street Journal, a newly-released New York Fed report indicates that younger Americans lack access to credit, making it harder to purchase homes and build personal wealth. The report found that millennials, burdened by high student-loan debt, have lower levels of mortgage originations and higher auto and credit card delinquency rates compared to previous generations. WSJ
The Wall Street Journal reports that major auto makers are reporting declines in first quarter U.S. sales, citing post-recession sales peaks, rising prices, and the attractiveness of used car options as reasons why new vehicle sales are in decline. Some producers expressed cautious optimism that demand for new cars will pick up later this year amid sustained low unemployment and strong wage growth. WSJ