U.S. Economic News
October 5, 2017
U.S. Economic Indicators
New factory orders for manufactured goods rose 1.2% in August following a 3.3% decrease in July, and are up 5.6% on the year. New orders excluding transportation edged up 0.4% while new orders for nondefense capital goods excluding aircraft increased 1.1%. Census Bureau Report
The U.S. trade deficit decreased from $43.6 billion in July (revised) to $42.4 billion in August. The goods deficit fell $0.9 billion while the services surplus edged up $0.3 billion. Census Bureau Report
Initial jobless claims decreased 12,000 to 260,000 last week. The four-week moving average fell 9,500 to 268,250. DOL Report
U.S. News
The Wall Street Journal reports that Federal Reserve Chair Janet Yellen signaled her support for making sure that banking regulations are not unduly burdensome. Yellen said that community banks mostly avoided the practices that contributed to the financial crisis and that they should not be punished for the actions of larger financial institutions. WSJ
Sharon Nunn of the Wall Street Journal writes that western states are driving the U.S.’ consumer spending growth. Nunn posits that the high-tech sector and expanded trade with Asia are driving the region’s growth, which has consistently outpaced nation-wide growth for six years. WSJ