U.S. Economic News
March 5, 2018
U.S. Economic Indicators
The ISM Non-Manufacturing Index edged down 0.4 percentage point to 59.5 in February. The New Orders Index rose 2.1 percentage points to 64.8 while the Employment Index fell 6.6 percentage points to 55.0. ISM Report
U.S. News
The Wall Street Journal reports that the U.S. will be the world’s largest oil producer by 2023, according to a new forecast from the International Energy Agency. U.S. crude production is expected to exceed 12 million barrels per day in 2023 and will account for nearly 60% of the expected increase in global production between now and then. WSJ
According to the Wall Street Journal, President Trump says that recently-announced tariffs on aluminum and steel will only be lifted if a new NAFTA agreement is reached. Administration officials have said that no country will be exempted from the new tariffs, so the new announcement may further impede progress on NAFTA renegotiations that are already moving slowly. WSJ