U.S. Economic News
January 3, 2019
U.S. Economic Indicators
The ADP Employment Report shows that private-sector employment increased by 271,000 jobs in December, above expectations of 175,000. The services sector added 224,000 jobs and the goods-producing sector added 47,000 jobs. ADP Report
Initial jobless claims rose 10,000 to 231,000 last week. The four-week moving average decreased 500 to 218,750. DOL Report
The ISM Manufacturing Index decreased 5.2 percentage points to 54.1 in December. The Employment Index eased 2.2 percentage points to 56.2 while the New Orders Index decreased 11 percentage points to 51.1. ISM Report
U.S. News
The Wall Street Journal reports that investors increasingly believe the Federal Reserve will decrease or hold interest rates steady this year, a sign of waning confidence that the U.S. economic expansion will continue at 2018’s pace. Fed officials expect U.S. growth to moderate this year due to slower growth abroad, fading government stimulus measures, and the effects of the Fed’s own balance sheet reduction. WSJ
According to the Wall Street Journal, Chinese consumers, normally a reliable growth driver, are losing confidence in the Chinese economy, deepening an economic pullback felt by global markets. Chinese consumer spending has been dented by a slowing domestic economy, the U.S. trade fight, and rising housing costs. WSJ