U.S. Economic News
November 20, 2018
U.S. Economic Indicators
Privately-owned housing starts rose 1.5% in October to a seasonally adjusted annual rate of 1.23 million (down 2.9% year-over-year). Housing permits declined 0.6% to a 1.27 million annual pace in October and are down 6.0% on the year. Census Bureau Report
U.S. News
The Wall Street Journal reports that local governments in China are providing funds to help private firms whose share prices have spiraled downward on the domestic stock exchange. A weakening private sector could further slow China’s growth, which eased to 6.5% last quarter. WSJ
Michael Derby of The Wall Street Journal reports that New York Fed President John Williams expects the Federal Reserve to continue steadily raising interest rates. Derby writes that the Federal Reserve is expected to raise rates again in December and throughout 2019 in order to quell inflationary pressures, despite unexpected slowing global growth and volatile financial markets. WSJ