U.S. Economic News
February 2, 2018
U.S. Economic Indicators
The U.S. economy added 200,000 jobs in January, above consensus. The unemployment rate held steady at 4.1%, the labor force participation rate was unchanged at 62.7%, and average hourly earnings accelerated to 2.9% Y/Y. BLS Report
The University of Michigan Consumer Sentiment Index edged down 0.2 point to 95.7 in the final January reading, and is down 2.8 points on the year. The Index of Consumer Expectations rose 2.0 points to 86.3, while the Current Economic Conditions Index dropped 3.3 points to 110.5. Report
New factory orders for manufactured goods rose 1.7% in December following a 1.7% increase in November, and are up 6.0% on the year. New orders excluding transportation increased 0.7% while new orders for nondefense capital goods excluding aircraft fell 0.6%. Census Bureau Report
U.S. News
The Wall Street Journal reports that Americans poured money into charitable-giving vehicles known as donor-advised funds at the end of 2017 before the new tax code took effect. The new tax code, which saw the standard deduction double for single filers and married couples, is expected to result in fewer charitable donations because fewer Americans will itemize their deductions. WSJ