U.S. Economic News
September 19, 2018
U.S. Economic Indicators
Privately-owned housing starts jumped 9.2% in August to a seasonally adjusted annual rate of 1.28 million (up 9.4% year-over-year). Housing permits declined 5.7% to a 1.23 million annual pace in August and are down 5.5% on the year. Census Bureau Report
U.S. News
The Wall Street Journal writes that the latest round of tariffs on Chinese goods will likely raise auto-parts prices for U.S. consumers. The newest tariffs, which cover roughly $200 billion of imports from China such as auto parts, could impact the prices of both new and used cars in the coming months. WSJ
Lucy Hornby of the Financial Times reports that Chinese officials have pledged a series of pro-business reforms that aim to bolster foreign confidence in the Chinese economy. Officials say that China will cut taxes, promote lending to non-Chinese firms, and allow for equal treatment of foreign and domestic firms. FT