U.S. Economic News
April 2, 2019
U.S. Economic Indicators
New orders of manufactured durable goods fell 1.6% in February after rising 0.1% (revised) in January but are up 4.4% year-to-date. Excluding transportation, new orders edged up 0.1% (up 3.2% YTD). Census Bureau Report
U.S. News
According to the Financial Times, the World Trade Organization has warned of “strong headwinds” facing global trade over the next two years due to commercial tensions, slowing economies, financial volatility, and tighter monetary conditions in developed countries. The WTO downgraded its estimate of global trade growth in 2018 to 3.0% and expects global trade to grow by just 2.6% in 2019. FT
The Wall Street Journal reports that indices of manufacturing activity rebounded in the U.S. and China in March while dropping sharply in Europe, suggesting an uneven outlook on global growth. The IHS Markit Purchasing Managers’ Index for the eurozone indicated the largest decline in output in nearly six years as European manufacturers struggle with trade tensions and slowing demand from China. WSJ