U.S. Economic News
January 30, 2019
U.S. Economic Indicators
The ADP Employment Report shows that private-sector employment increased by 213,000 jobs in January, above expectations of 174,000. The services sector added 145,000 jobs and the goods-producing sector added 68,000 jobs. ADP Report
The National Association of Realtors pending home sales index eased 2.2% in December (down 9.8% Y/Y), the twelfth straight month of annual decreases. NAR points to stock market volatility hurting consumer confidence, as well as record high home prices and higher mortgage rates as potential causes for December’s drop. NAR Report
U.S. News
The Wall Street Journal reports that the Fed is expected to hold rates steady at their policy meeting today. Since the beginning of 2019, Fed officials have signaled they are willing to stop raising rates until they determine if slowing global growth and volatile financial markets have dampened the U.S. outlook. WSJ
Kate Davidson of the Wall Street Journal reports that the Treasury plans to scale back its borrowing plans in early 2019 after increasing borrowing last year due to tax cuts. Overall, the Treasury expects to issue $365 billion in debt during the first quarter of 2019 and $83 billion during the second quarter. WSJ