U.S. Economic News
March 6, 2019
U.S. Economic Indicators
The ADP Employment Report shows that private-sector employment increased by 183,000 jobs in February, above expectations of 180,000. The services sector added 139,000 jobs and the goods-producing sector added 44,000 jobs. ADP Report
The U.S. trade deficit increased from $50.3 billion in November (revised) to $59.8 billion in December. The goods deficit rose $9.0 billion while the services surplus decreased $0.5 billion. Census Bureau Report
U.S. News
Paul Hannon of the Wall Street Journal reports that the global economy is unlikely to receive a boost from a trade agreement between the U.S. and China, as uncertainty over future relations between the two countries is likely to linger, according to a report by the OECD. While U.S. tax cuts and government spending increases have helped protect the economy from negative impacts of the trade dispute, that protection will not last indefinitely. WSJ
The Financial Times reports that the OECD has slashed their economic growth forecasts for the eurozone to just 1% in 2019 and 1.2% in 2020. The reduction in expected growth is driven largely by downgrades in expectations for Germany, who is experiencing a manufacturing slump, and for Italy, who lingers near a recession. FT