U.S. Economic News
February 20, 2020
U.S. Economic Indicators
The Conference Board’s Leading Economic Index (“LEI”) rose 0.8 point in January following a 0.3 point decline in December. The improvement in the LEI was driven by a sharp decrease in initial unemployment claims and a rise in housing permits. Conference Board Report
Initial jobless claims rose 4,000 to 210,000 last week. The four-week moving average fell 3,250 to 209,000. DOL Report
U.S. News
Greg Ip reports for the Wall Street Journal that an ongoing, low-intensity trade conflict between the United States and India may be poised to escalate as India ramps up protections for domestic companies in an effort to replicate China’s economic success. Under Prime Minister Narendra Modi, India has opened up to foreign investment on the expectation it would help build domestic champions while simultaneously raising import duties to protect domestic companies from competition with foreign rivals. WSJ
According to the Washington Post, the latest Economic Report of the President predicts the U.S. economy will grow at a 2.4% annual pace this year, missing the President’s target of 3% or higher in the absence of a major infrastructure package and additional Congressional tax cuts. Growth of around 2% or higher is still considered a healthy rate of expansion, consistent with continued job growth and low unemployment. WaPo