U.S. Economic News
December 13, 2018
U.S. Economic Indicators
Initial jobless claims fell 27,000 to 206,000 last week. The four-week moving average decreased 3,750 to 224,750. DOL Report
U.S. News
The Wall Street Journal reports that commodities prices will end the year with declines, with oil falling 15% and lumber 28% in 2018. These price declines are driven by growth fears, trade tensions, and a strong dollar. WSJ
According to the Financial Times, Chinese companies have resumed importing U.S. soybeans for the first time in months. Soybeans, one of the largest U.S. exports to China before the beginning of the current trade conflict, were targeted with tariffs that had caused shipments to fall to nearly zero. FT
Kate Davidson of the Wall Street Journal writes that in a new survey economists have scaled back their forecasts for interest-rate hikes in 2019. While almost every economist surveyed expects a rate increase in December of this year, the median forecast for 2019 was two total rate hikes, down from expectations of three just last month. WSJ