U.S. Economic News
October 3, 2019
U.S. Economic Indicators
New factory orders for manufactured goods declined 0.1% in August following a 1.4% increase in July and are down 0.1% compared to a year ago. New orders excluding transportation were unchanged while new orders for nondefense capital goods excluding aircraft fell 0.4%. Census Bureau Report
The ISM Non-Manufacturing Index fell 3.8 points to 52.6 in September. The New Orders Index fell 6.6 points to 53.7, while the Employment Index decreased 2.7 points to 50.4. ISM Report
Initial jobless claims rose 4,000 to 219,000 last week. The four-week moving average was unchanged at 212,500 (revised). DOL Report
U.S. News
Bloomberg reports that the median estimate for September job growth is the lowest monthly jobs projection in seven years apart from months affected by severe weather events or government shutdowns. Although the labor market remains tight by historical standards, there is concern that decelerating global demand and weakening manufacturing activity may start to affect U.S. businesses’ hiring plans. Bloomberg