U.S. Economic News
July 18, 2019
U.S. Economic Indicators
The Conference Board’s Leading Economic Index (“LEI”) declined 0.3% in June, following no change in May. The decline was driven by weakness in new manufacturing orders, housing permits, and employment, with growth likely to remain slow in the second half of 2019 as the U.S. economy enters its eleventh year of expansion. Conference Board Report
Initial jobless claims rose 8,000 to 216,000 last week. The four-week moving average fell 250 to 218,750. DOL Report
U.S. News
According to the Wall Street Journal, the latest Federal Reserve beige book survey found that American businesses see economic activity expanding modestly in the coming months despite widespread concerns over trade. Businesses pointed to healthy consumer spending while acknowledging continuing struggles with worker shortages. WSJ
The Washington Post reports that the House of Representatives is scheduled to vote Thursday on a bill that would raise the minimum wage gradually from its current level of $7.25 an hour to $15 an hour in 2025. The bill is likely to pass the House with overwhelming Democratic support, but is expected to fail in the Republican-led Senate. WaPo