U.S. Economic News
October 16, 2018
U.S. Economic Indicators
The NAHB Housing Market Index edged up 1.0 points to 68.0 in October. Builder confidence was buoyed by declining lumber prices and robust demand for new homes. NAHB Report
Industrial production rose 0.3% in September (up 5.1% Y/Y), after increasing 0.4% (revised) in August. Capacity utilization was unchanged at 78.1 in September. Fed Report
U.S. News
The Job Openings and Labor Turnover Survey (“JOLTS”), a closely-watched measure of labor market health, indicated there were 7.1 million job openings at the end of August, an all-time high. Hires edged up to 5.8 million while the quits rate was unchanged at 2.4%. BLS Report
The Wall Street Journal reports that the U.S. government ran a deficit of $779 billion in the fiscal year ending September 30, the largest deficit in six years. The deficit surged 17% from the prior fiscal year due to the combined effects of $1.5 trillion in tax cuts and recent, sharp increases in government spending. WSJ