U.S. Economic News
January 30, 2018
U.S. Economic Indicators
The Conference Board’s Consumer Confidence Index rose from 123.1 (revised) in December to 125.4 in January. The increase was driven by an improvement in the Expectations Index from 100.8 to 105.5. Conference Board Report
U.S. News
The Financial Times reports that U.S. trade representative Robert Lighthizer says that NAFTA renegotiations are moving too slowly. Lighthizer also said that the group of negotiators had begun to make progress on some of the more difficult points of contention, including rules for domestic content in automobiles and a future review process for NAFTA. FT
In a Wall Street Journal op-ed dean of the Tuck School of Business Matthew J. Slaughter argues that withdrawing from NAFTA would cost the U.S. $50 billion a year in gross domestic product. Slaughter contends that GDP would suffer because the end of NAFTA would make it more difficult for U.S. multinational firms to invest in Canada and Mexico and would also limit export opportunities for small U.S. firms. WSJ