U.S. Economic News
June 26, 2019
U.S. Economic Indicators
New orders of manufactured durable goods decreased 1.3% in May after falling 2.8% (revised) in April and are up 1.0% compared to a year ago. Excluding transportation, new orders rose 0.3% (up 1.5% from last year). Census Bureau Report
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit widened to $74.5 billion in May from $70.9 billion in April. Meanwhile, wholesale inventories rose 0.4% and retail inventories increased 0.5%. Census Bureau Report
U.S. News
The Wall Street Journal reports that a revival of U.S.-China trade talks will depend on the personal relationship between presidents Trump and Xi at this week’s G-20 summit. Insiders have cautioned against expecting a deal anytime soon, as discussions will be complicated by recent U.S. actions against Huawei and lingering security concerns. WSJ
According to the Washington Post, a new CBO report found that federal debt relative to GDP is on track to rise over the coming decades to its highest level since World War II. Public debt amounted to 78% of U.S. GDP in 2019, compared with just 35% in 2007, and is set to rise to 92% by 2030. WaPo