U.S. Economic News
January 24, 2019
U.S. Economic Indicators
Initial jobless claims fell 13,000 to 199,000 last week. The four-week moving average fell 5,500 to 215,000. DOL Report
The Conference Board’s Leading Economic Index declined 0.1% to 111.7 in December. The slight decrease suggests economic growth may be peaking. Conference Board Report
U.S. News
The Wall Street Journal reports that Mario Draghi, President of the European Central Bank, warned that Europe’s economy faces mounting headwinds, shifting from a statement in December that said economic risks were broadly in balance. Draghi cited uncertainties around threats of protectionism, vulnerable emerging markets, and volatile financial markets as reasons for the change. WSJ
According to the Wall Street Journal, the Trump administration’s top economist, Kevin Hassett, said that the U.S. economy may not grow at all in the first quarter of 2019 if the partial government shutdown continues. Hasset maintains, however, that the economy should recover any lost growth when the government reopens. WSJ
Peter Wells from the Financial Times reports that US commerce secretary Wilbur Ross stated that the U.S. and China are still “miles and miles” from a trade deal. Ross cited structural reforms and an intolerably large trade deficit with China as key sticking points. FT