Page 15 - TFRW PNL Aug 2018

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WASHINGTON EXAMINER: Jobless Claims Hover Near 50-Year Lows

“Even with the modest increase, average weekly claims have run near the lowest levels in a half century over the
past month. Low claims are good sign. If few people are showing up at state unemployment agencies, it suggests
that layoffs are rare and job creation is strong.”
https://www.washingtonexaminer.com/policy/economy/jobless-claims-hover-near-50-year-lows

THE WALL STREET JOURNAL: Economists Think U.S. Unemployment is Headed to a 50-Year Low

“Economists expect the low U.S. unemployment rate to go even lower over the next year, reaching levels not
seen in a half-century. Private-sector economic forecasters surveyed in recent days by The Wall Street Journal on
average saw the jobless rate—4% in June after touching 3.8% in May—falling to 3.7% by the end of 2018 and 3.6%
by mid-2019.”
https://www.wsj.com/articles/economists-think-u-s-unemployment-is-headed-to-a-50-year-low-1531404000

BLOOMBERG: U.S. Retail Sales Advance for Fifth Month, May Revised Up

“U.S. retail sales rose for a fifth month in June and figures from May were revised upward amid gains at auto dealers
and nonstore vendors … A tight labor market and lower taxes have supported solid gains in household purchases,
the biggest part of the economy …”
https://www.bloomberg.com/news/articles/2018-07-16/u-s-retail-sales-rose-in-june-for-fifth-month-may-re-
vised-up

THE ASSOCIATED PRESS: US Factories Register Faster-Than-Expected Growth in June

“American factories expanded at an unexpectedly fast pace in June, another sign of strength for U.S. industry …
The Institute for Supply Management, a trade group of purchase managers, says its manufacturing index rose last
month to 60.2. That’s the highest level since February and up from 58.7 in May. Anything over 50 signals growth, and
U.S. factories are on a 22-month winning streak.”
https://www.apnews.com/5d7af00b4e5f450da8e4b13f92bc118b

ABA BANKING JOURNAL: Small Business Optimism Index Maintains High in June

“The NFIB Small Business Optimism Index fell slightly to 107.2, 0.6 point below May’s record reading. This was the
sixth highest reading in the index’s 45 year history and just below the record level (108.0) reached in 1983.”
https://bankingjournal.aba.com/2018/07/small-business-optimism-index-maintains-high-in-june/

BUSINESS INSIDER: 6 Months into the Trump Tax Law, Manufacturing Confidence is Through
the Roof

“In the National Association of Manufacturers’ (NAM) quarterly outlook survey published on Wednesday, 95.1
percent of manufacturers surveyed said they have a positive outlook for their companies, a record-high in the past
20 years. The survey also found that among medium-sized manufacturers, 95.8 percent of those surveyed have
a positive outlook. In addition to substantially increased confidence, projected employment growth and capital
spending are at record levels. Manufacturers also project wage growth to rise at its fastest pace in 17 years.”
https://www.businessinsider.com/manufacturing-confidence-ievels-right-now-latest-survey-2018-6

PRESIDENT’S NEWSLETTER | AUGUST 2018 15 TEXAS FEDERATION OF REPUBLICAN WOMEN