U.S. Economic News
December 27, 2018
U.S. Economic Indicators
Initial jobless claims fell 1,000 to 216,000 last week. The four-week moving average decreased 4,750 to 218,000. DOL Report
The Conference Board’s Consumer Confidence Index declined from 136.4 in November to 128.1 in December. The decrease was driven by a sharp decline in the Expectations Index. Conference Board Report
U.S. News
Sharon Nunn of the Wall Street Journal writes that a protracted government shutdown could worsen an already-gloomy outlook for U.S. financial markets if business confidence begins to fade. Although both small and large business confidence remain healthy, an extended shutdown could worsen financial market volatility and dampen business confidence. WSJ
The Wall Street Journal reports that the natural gas glut in some parts of Texas and New Mexico has driven natural gas prices below zero in some cases. Energy companies operating in the Permian Basin are producing vast amounts of natural gas as a byproduct of oil drilling, but because they face substantial pipeline bottlenecks some firms have been forced to pay to get rid of their excess gas. WSJ