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.
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.
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.
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.
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 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.
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.
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.
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.