The nation’s business economists expect U.S. economic growth to decelerate this year and next but for the economy to avoid stumbling into recession, extending a record-breaking expansion already in its 11th year.
U.S. employers added a solid 128,000 jobs in October, a figure that was held down by a now-settled strike against General Motors that caused tens of thousands of workers to be temporarily counted as unemployed.
Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.
The nation’s business economists think President Donald Trump’s trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
U.S. employers added a modest 130,000 jobs in August, a sign that hiring in the United States has slowed but remains durable in the face of global economic weakness and President Donald Trump’s trade war with China.
The U.S.-China trade war and slower global growth are weighing on America’s manufacturers, reducing their output and causing workforce cuts.
Looking across the stock market, it’s hard to find a company that isn’t vulnerable in some degree to the U.S.-China trade war. Now, investors are also looking beyond these first-order effects as they pick out which stocks look susceptible to the trade war.
Wall Street’s anxiety over the Trump administration’s trade war with China could herald lower mortgage rates for homebuyers.
The pace of expansion for U.S. services companies fell to its slowest pace in nearly three years, as gauges of business activity and new orders weakened.
The U.S. economy grew at a solid 3.1 percent rate in the first three months of the year, but much of that gain was based on temporary factors that will likely fade, leaving growth much slower in the current quarter.
The nation’s business economists foresee a sharp slowdown in U.S. economic growth over the next two years, in sharp contrast to the Trump administration’s predictions that growth will accelerate this year and next.
