U.S. Economic News
October 8, 2019
U.S. Economic Indicators
The NFIB Small Business Optimism Index fell 1.3 points to 101.8 in September as seven components eased and three were unchanged. Despite edging downward, the Index remains historically high and signals continued job creation, capital spending, and inventory investment. NFIB Report
The headline Producer Price Index (“PPI”) for final demand decreased 0.3% in September and was up 1.4% from September of last year. The core — which removes volatile prices of food, energy, and trade services — was unchanged in September and was up 1.7% from a year ago. BLS Report
U.S. News
The Financial Times reports that the U.S. has added 28 Chinese technology groups to the entity list which will require U.S. suppliers to obtain a special license to continue selling to them, citing the Chinese organizations’ involvement in human rights abuses against Uighurs and other minorities in Xinjiang. While the Chinese foreign ministry has publicly criticized the U.S. decision, trade talks between the U.S. and China are set to resume this week as planned. FT
The Wall Street Journal reports that Fed Chairman Jerome Powell emphasized the importance of an independent U.S. central bank while discussing the legacy of 1930s Fed leader Marriner Eccles earlier this week. Powell’s remarks come amid unprecedented political pressure on the Fed to lower rates to stimulate economic activity. WSJ