US Services Firms Grow in April at Slowest Pace This Year
U.S. services firms grew at a slower pace in April compared with the prior month as companies are reporting cost pressures from possible tariffs and a shortage of available workers.
US Payrolls Rebound to 164,000 Gain; Jobless Rate Hits 3.9%
U.S. hiring rebounded in April, and the unemployment rate dropped below 4% for the first time since 2000, while wage gains unexpectedly cooled, suggesting the labor market still has slack to absorb. Payrolls rose 164,000 after an upwardly revised 135,000 advance, Labor Department figures showed May 4.
Trade Gap Narrows to $49 Billion; Drop of $8.8 Billion Biggest Since 2009
The U.S. trade deficit narrowed in March by the most in two years, while last week’s unemployment filings were below estimates and productivity gains remained lukewarm in the first quarter. Here’s what you need to know from the economic reports out the morning of May 3.
Trump Administration Softens Expectations for a US-China Trade Deal This Week
The Trump administration sought to temper expectations for a swift breakthrough on trade issues with China as a delegation of senior U.S. officials prepares to visit Beijing this week.
US Factory Managers Concerned About Effects of Trump’s Tariffs
Very concerning. Two products eliminated. Commodity prices rising. Business planning “is at a standstill.” That’s what a few American manufacturers said they’re facing as the Trump administration weighs tariffs on imported metals and Chinese products, creating uncertainty for companies that by most other accounts are going gangbusters.
May 1, 2018Trump’s China Tariffs Risk Costing US Jobs, New Study Shows
President Donald Trump said his trade actions may cause “a little pain” in the short term, and a new study shows U.S. agricultural workers could be hurt the most.
US Economy Hits Milestone as Fed Tries to Keep Growth Rolling
With the calendar’s turn from April to May, the U.S. economic expansion has become the nation’s second-longest on record.
US Pending Home Sales Increase Less Than Forecast in March
A gauge of signed contracts to purchase previously owned U.S. homes rose less than forecast in March, and the prior month’s reading was revised down, indicating a lack of inventory is restraining the market, according to data released April 30 from the National Association of Realtors in Washington.
April 30, 2018March Consumer Spending Picks Up; Inflation Hits Fed Goal
U.S. consumer spending picked up in March while the Federal Reserve’s preferred inflation gauge hit the central bank’s 2% target for the first time in a year, reinforcing the outlook for further interest-rate hikes.
US Growth Cools to 2.3% While Compensation Costs Accelerate
U.S. economic growth cooled last quarter as consumers pulled back after outsize spending in the prior period, though solid business investment cushioned some of the weakness and employee-compensation costs accelerated amid a tight job market.