December’s ISM non-manufacturing index signals better-than-expected expansion
Activity in the U.S. services sector rose slightly in December as businesses felt relieved by a partial trade agreement between the U.S. and China, data released Tuesday showed.
Fed’s Evans: U.S. economy looks good for GDP growth of 2% to 2.25% for 2020: CNBC
The fundamentals of the U.S. economy are “good” at the moment and the labor market remains strong with the economy set for a gross domestic product growth rate of 2% to 2.25% for 2020, Chicago Federal Reserve Bank President Charles Evans told CNBC on Friday.
Small business pay checks are growing at a fast pace as job gains slow
Weekly earnings for employees of small businesses grew at an annual rate of 4.1% at the end of the year, the fastest pace since the Paychex/IHS Markit Small Business Employment Watch began.
Saturday Shopping Sets U.S. One-Day Sales Record, Analyst Says
Holiday shopping set records over the weekend, with Super Saturday sales reaching $34.4 billion, the biggest single day in U.S. retail history, according to Customer Growth Partners.
Fannie Mae boosts 2020 housing forecast ‘significantly’
Fannie Mae’s Economic and Strategic Research Group predicts builders will expand production more than previously expected, due to a strong labor market and robust consumer spending. Low mortgage rates will also help.
US housing starts rise more than expected, with permits at a 12-1/2-year high
U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy.
China to target around 6% growth in 2020, step up state spending: sources
China plans to set a lower economic growth target of around 6% in 2020 from this year’s 6-6.5%, relying on increased state infrastructure spending to ward off a sharper slowdown, policy sources said.
Home builder confidence soars to highest level since 1999
The National Association of Home Builders’ monthly confidence index increased five points to 76 in December from an upwardly-revised 71 the month prior, the trade group said Monday. December’s figure represents the highest index reading since June 1999.
Bank of America CEO Brian Moynihan says confident consumers are spending 5.5% more this year
Bank of America CEO Brian Moynihan said Wednesday the lender’s customers spent about 5.5% more this year over 2018, a bullish sign for the U.S. economy.
TV Industry Suffers Steepest Drop in Ad Sales Since Recession
Global TV advertising sales fell almost 4% in 2019, the steepest drop since the depths of the economic recession in 2009, in the latest sign that advertisers are following viewers to the internet.