The trade deficit with China accounts for 2/3 of total trade deficit with Asia.
The US has a trade deficit with China in pretty much everything except agriculture and energy. Trump should have focused on opening market for services
US has an increasing trade surplus with Mexico in chemicals and fuels (particularly natural gas). Autos remain the big deficit item
A pretty amazing turnaround – and a reason people are willing to quit their jobs. Businesses still won’t give bigger pay increases
A year after President Trump won the election, his approval remains low. Not a problem with the base voters, but independents are souring.
Moderate job growth in September and October, despite large fluctuations due to hurricanes. Still a strong labor market
US productivity growth reached 1.5% in Q3, With more business investments in technology and machinery I expect further increases in productivity in coming quarters
US consumer confidence is sky even though real income growth is close to zero. Late-cycle increased willingness to borrow.
Down, down, down… President Trump’s approval rating is tanking. Losing support among white, independent men. Hard to win in the Midwest without them.
German unemployment continues to drop, but even more impressive is the rise in employment. The labor force is growing rapidly.