U.S. Economic News
April 28, 2020
U.S. Economic Indicators
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit expanded to $64.2 billion in March from $59.9 billion in February. Meanwhile, wholesale inventories fell 1.0% and retail inventories increased 0.9%. Census Bureau Report
The Conference Board’s Consumer Confidence Index decreased from 118.8 (revised) in March to 86.9 in April. Consumers’ assessment of current conditions deteriorated considerably, while near-term expectations for jobs and financial prospects improved somewhat. Conference Board Report
U.S. News
The Wall Street Journal reports that government economic stimulus measures passed in March are complicating state efforts to reopen businesses as many workers – roughly half – stand to earn more from enhanced unemployment benefits than at their previous jobs. The initial wave of coronavirus-related job losses was concentrated in the restaurant, hospitality, and retail sectors, where median hourly pay is below the minimum payout under current unemployment benefits. WSJ