The Monday Mix: November 4 – 10, 2019
Headlines discussed at LNWM’s Monday morning briefing:
— New claims for US unemployment benefits averaged 215,250 per week over the past month, indicating solid US job market.
— US worker productivity fell in 3rd qtr. 2019 by 0.3% (vs. 0.9% gain expected), biggest drop in four years, as output lagged hours worked.
— The Trump administration confirmed that some, not all, US tariffs on Chinese imports will be rolled back, in phase 1 of potential trade deal.
— For the 1st time since 1978, the US reported its 1st trade surplus in oil (exports higher than imports in Sept. 2019), as the trade deficit narrowed.
— GDP growth in the Eurozone is expected to be 1.1% this year and 1.2% in 2020, slightly lower than initially forecast.
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