U.S. Economic News
June 24, 2019
U.S. Economic Indicators
The Chicago Fed National Activity Index rose from -0.48 (revised) in April to -0.05 in May. The production category contributed positively, while the employment and housing & consumption categories contributed negatively and the sales, orders, & inventories category made a neutral contribution. Chicago Fed Report
U.S. News
The Financial Times reports that U.S. companies are increasingly looking for legal loopholes to avoid or reduce costs associated with tariffs on Chinese goods. Many companies are attempting to take advantage of the “321 de minimus rule,” which allows shipments worth less than $800 to be imported tariff-free. FT
According to the Wall Street Journal, eurozone employment has begun to cool as manufacturers cut back on hiring in response to weaker global demand, putting the region’s tenuous economic recovery in peril. Germany has been hit especially hard, as tensions between the U.S. and its trading partners have created uncertainty about where companies will locate production to avoid tariffs. WSJ