U.S. Economic News
July 26, 2018
U.S. Economic Indicators
New orders of manufactured durable goods rose 1.0% in June after declining 0.3% (revised) in May, and are up 8.4% year-over-year. Excluding transportation, new orders were up 0.4% (up 8.1% Y/Y). Census Bureau Report
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit widened to $68.3 billion in June from $64.8 billion in May. Meanwhile, both wholesale and retail inventories were unchanged. Census Bureau Report
Initial jobless claims rose 9,000 to 217,000 last week. The four-week moving average decreased 2,750 to 218,000. DOL Report
U.S. News
The Wall Street Journal reports that the U.S. and E.U. have agreed to hold off on further tariffs while the two sides negotiate a more open trade relationship. The agreement comes amidst an escalating trade conflict that has seen the U.S. threaten to impose across-the-board tariffs on European cars following recent retaliatory tariffs by the E.U. WSJ