U.S. Economic News
June 6, 2018
U.S. Economic Indicators
The U.S. trade deficit decreased from $47.2 billion in March (revised) to $46.2 billion in April. The goods deficit fell $1.0 billion while the services surplus decreased less than $0.1 billion. Census Bureau Report
Nonfarm business sector labor productivity increased 0.4% (revised) in Q1 and was up 1.3% on the year. Hours worked increased 2.3% in Q1 and unit labor costs rose 2.9%. BLS Report
U.S. News
The Wall Street Journal reports that U.S. farmers, who are already losing sales in China due to recent trade conflicts, will now face tariffs from Mexico and potentially Canada as well. China, Mexico, and Canada represent a significant portion of demand for U.S. agricultural exports, and given already-low agricultural commodity prices, U.S. farmers stand to suffer if tit-for-tat tariffs escalate. WSJ