U.S. Economic News
December 26, 2019
U.S. Economic Indicators
Initial jobless claims fell 13,000 to 222,000 last week. The four-week moving average rose 2,250 to 228,000. DOL Report
U.S. News
The Financial Times reports that strong online purchases provided a boost to holiday retail sales, underlining both the strength of U.S. consumer spending and the challenges facing traditional brick-and-mortar retailers. E-commerce sales accounted for almost 15% of total sales during the crucial holiday shopping season, rising 18.8% over the period between November 1 and Christmas Eve compared to just 1.2% sales growth for physical stores. FT
According to the Wall Street Journal, the White House could soon face significant legal challenges to its use of Section 301 tariffs on Chinese goods as part of its broader trade war strategy. Recent court victories by companies and business groups challenging the administration’s authority to impose tariffs under other sections of trade law may encourage new legal challenges to China-specific duties. WSJ