U.S. Economic News
December 20, 2019
U.S. Economic Indicators
The third estimate of Q3 GDP indicates that the U.S. economy expanded at an annualized rate of 2.1%, unchanged from the prior estimate. The increase in real GDP reflects positive contributions from consumer spending, government spending, and residential investment that were partly offset by declines in business investment and net exports. BEA Report
Real disposable personal income rose 0.4% in November, while real personal consumption expenditures (PCE) ticked up 0.3%. The PCE price index rose 0.2% (up 1.5% Y/Y), and the core price index rose 0.1% (up 1.6% Y/Y). BEA Report
The University of Michigan Consumer Sentiment Index rose 2.5 points to 99.3 in the final December reading and is up 1.0 point from December of last year. The Index of Consumer Expectations rose 1.6 points to 88.9, while the Current Economic Conditions Index rose 3.9 points to 115.5. University of Michigan
U.S. News
The Wall Street Journal reports that the House of Representatives successfully passed legislation to implement the U.S.-Mexico-Canada Agreement with overwhelmingly bipartisan support. The Senate is expected to pass the legislation early next year, leaving ratification by Canada as the final step needed for the trade pact to enter into force. WSJ