U.S. Economic News
December 8, 2017
U.S. Economic Indicators
The U.S. economy added 228,000 jobs in November, which was above consensus. The unemployment rate held steady at 4.1%, the labor force participation rate was unchanged at 62.7%, and average hourly earnings ticked up to 2.5% Y/Y. BLS Report
The University of Michigan Consumer Sentiment Index fell 1.7 points to 96.8 in the preliminary December reading, and is down 1.4 points on the year. The Index of Consumer Expectations declined 4.3 points to 84.6, while the Current Economic Conditions Index rose 2.4 points to 115.9. Report
The U.S. Census Bureau reports that wholesale merchant inventories fell 0.5% in October to $605.3 billion. Inventories were up 3.9% year-over-year. Census Report
U.S. News
The Wall Street Journal reports that Congress passed a two-week spending bill yesterday to extend government funding through December 22. Congressional leaders will have to iron out a two-year budget agreement before passing a spending bill that would extend through the rest of the fiscal year. WSJ