U.S. Economic Indicators
March 5, 2020
U.S. Economic Indicators
New factory orders for manufactured goods fell 0.5% in January following a 1.9% (revised) increase in December and are unchanged compared to a year ago. New orders excluding transportation were down 0.1%, while new orders for nondefense capital goods excluding aircraft rose 1.1%. Census Bureau Report
Nonfarm business sector labor productivity increased 1.2% in 2019 Q4 (revised) and was up 1.8% compared to the prior year. Hours worked increased 1.2% and unit labor costs rose 0.9%. BLS Report
Initial jobless claims fell 3,000 to 216,000 last week. The four-week moving average rose 3,250 to 213,000. DOL Report
U.S. News
Peter S. Goodman writes for the New York Times that the global spread of coronavirus has become the latest point of an ongoing backlash against globalization. The outbreak has caused chaos in global supply chains, revealing manufacturers’ slim inventories and lack of preparedness in the face of an unexpected disruption, while providing new ammunition for nationalist political movements. NYT