U.S. economy on path to ‘solid’ 2020 growth; budget deficits to top $1 trillion
The U.S. economy will grow at a “solid” rate of 2.2% this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion.
Richmond Fed Manufacturing Gauge Surges to Best Level Since 2018
The Federal Reserve Bank of Richmond’s regional manufacturing index surged at the start of 2020 as rebounds in sales and orders offered signs of stabilization in an otherwise beleaguered factory sector.
Consumer confidence jumps as job-market outlook improves
Consumer confidence in the U.S. grew more than expected in January as the outlook around the labor market improved, data released Tuesday by The Conference Board showed.
US manufacturing output rises unexpectedly
U.S. manufacturing output rose unexpectedly in December as a drop in motor vehicle output was outpaced by increases in production of other durable goods, food and beverages, and other products.
China’s says its economy grew 6.1% in 2019, in line with expectations
China said Friday its economy grew by 6.1% in 2019, meeting expectations even amid a trade dispute with the U.S.
US housing starts soar 16.9% in December to a 13-year high
U.S. homebuilding surged to a 13-year high in December as activity increased across the board, suggesting the housing market recovery was back on track amid low mortgage rates, and could help support the longest economic expansion on record.
U.S. Treasury removes designation of China as currency manipulator
The U.S. Treasury Department on Monday said China should no longer be designated a currency manipulator in a long-delayed semi-annual currency report, reversing its August finding, which had roiled financial markets.
Mnuchin Says Boeing Woes Could Lop a Half-Point from U.S. GDP
Troubles at aircraft maker Boeing Co. could trim about half a point from U.S. GDP in 2020 but economic growth should still come in at about 2.5%, said Treasury Secretary Steven Mnuchin.
Yuan to weaken with or without U.S.-China trade progress: Reuters poll
There will be no respite for the battered Chinese yuan over the coming year as U.S.-China trade relations are expected to remain rocky despite recent hopes for some resolution, a Reuters poll of FX strategists found.
Private payroll growth surges in December to end 2019 strong, ADP says
Private payroll growth ended 2019 on a strong note, with companies adding 202,000 positions in December in another sign of a healthy labor market, according to a report Wednesday from ADP and Moody’s Analytics.