U.S. Economic News
February 1, 2018
U.S. Economic Indicators
Initial jobless claims decreased 1,000 to 230,000 last week. The four-week moving average fell 5,000 to 234,500. DOL Report
Nonfarm business sector labor productivity decreased 0.1% in Q4 after rising 2.7% (revised) in Q3. Hours worked increased 3.3% in Q4 and unit labor costs rose 2.0%. BLS Report
The ISM Manufacturing Index edged down 0.2 percentage point to 59.1 in January. The New Orders Index decreased 2.0 percentage points to 65.4 and the Employment Index fell 3.9 percentage points to 54.2. ISM Report
Construction spending increased 0.7% in December to an annualized rate of $1.25 trillion. Public construction edged up 0.3% and private construction rose 0.8%. Census Report
U.S. News
The Wall Street Journal reports that the Federal Reserve held short-term interest rates steady after its recent meeting. Officials also said that they expect inflation to pick up this year, acknowledging a recent increase in market-based inflation expectations. WSJ