U.S. Economic News
February 28, 2019
U.S. Economic Indicators
Initial jobless claims rose 8,000 to 225,000 last week. The four-week moving average fell 7,000 to 229,000. DOL Report
The initial estimate of Q4 GDP indicates that the U.S. economy expanded at an annualized rate of 2.6%, above the consensus estimate of 2.2%. The reading reflects healthy consumer spending, federal government spending, and changes in private inventories. BEA Report
U.S. News
The Wall Street Journal reports that activity in China’s manufacturing sector fell to its lowest level in three years in February, weighed on by weak global demand and the long Lunar New Year. Despite government attempts to spur investment and activity, many economists view this as the latest sign of continued weakness and a slowing economy. WSJ
Kris Maher of the Wall Street Journal reports that ten years after the recession, states have sufficient financing to have a choice of what to spend revenues on rather than what programs to cut. The stability is welcomed after several years when revenues have been uneven for some states, particularly those that rely on natural resources. WSJ