U.S. Economic News
December 20, 2018
U.S. Economic Indicators
Initial jobless claims rose 8,000 to 214,000 last week. The four-week moving average decreased 2,750 to 222,000. DOL Report
The Conference Board’s Leading Economic Index edged up 0.2% to 111.8 in November. Of the ten indicators that comprise the index, seven contributed positively to growth in November. Conference Board Report
U.S. News
According to the Wall Street Journal, the Federal Reserve unanimously voted to raise short-term interest rates for the fourth time this year, but suggested that the pace of rate increases will slow next year. Fed Chairman Jerome Powell said officials expect the economy to be strong enough in 2019 to justify two more rate increases. WSJ
The Wall Street Journal reports that Saudi Arabia plans to cut oil output by more than it committed in a recent OPEC agreement, becoming one of two countries in OPEC to cut production by more than 100,000 barrels a day. Despite OPEC’s recent agreement to cut total production by 1.2 million barrels a day, oil prices have since fallen nearly 10%. WSJ