U.S. Economic News
November 12, 2019
U.S. Economic Indicators
The NFIB Small Business Optimism Index rose 0.6 point to 102.4 in October as eight components improved and two weakened. The increase in the headline index was driven by plans to increase inventories, capital outlays, and employment. NFIB Report
U.S. News
The Financial Times reports that the latest round of corporate earnings reports suggests that the slowdown in spending on new factories and equipment by large U.S. companies persisted into the third quarter of 2019, while executives warn that the slump is likely to continue into the fourth quarter. Company leaders appear to be deferring capital investments as they wait for greater clarity on trade negotiations. FT
According to the Wall Street Journal, West Coast imports of trans-Pacific goods plummeted last month following a new round of tariffs on Chinese goods, with the largest Pacific ports handling 14.1% fewer inbound containers than a year ago. The decline in shipments and large swings in trade volumes reflect the confusion among U.S. importers, as many had previously stockpiled goods to avoid anticipated tariff hikes but are now slowing orders as they burn off inventory. WSJ