07162019Tue
Last updateTue, 16 Jul 2019 2pm

i

Economists Predict Growth Slowdown in 2019

According to the April 2019 NABE Business Conditions Survey, respondents expect the U.S. economy, as measured by the change in inflation-adjusted gross domestic product (real GDP), to increase over the next four quarters. However, barely half (53%) of the panelists expects real GDP to rise by more than 2%, compared to 67% of respondents in the January survey.


Durable Goods Orders Up 2.7% in March

New orders for manufactured durable goods in March increased $6.8 billion or 2.7% to $258.5 billion, the U.S. Department of Commerce announced. This increase, up four of the last five months, followed a 1.1% February decrease. Excluding transportation, new orders increased 0.4%. Excluding defense, new orders increased 2.3%.

U.S. GDP Beats Expectations, Up 3.2% in First Quarter

U.S. GDP increased at an annual rate of 3.2% in the first quarter of 2019, according to the Department of Commerce. In the fourth quarter of 2018, GDP increased 2.2%. The increase reflected positive contributions from personal consumption expenditures, private inventory investment, exports, state & local government spending and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased. These contributions were partly offset by a decrease in residential investment.

Labor Market Remains Tight, Economy Continues to Grow

Economic activity in the U.S. expanded at a slight-to-moderate pace in March and early April, according to the Federal Reserve. While most Districts reported that growth continued at a similar pace as the previous report, a few Districts reported some strengthening. There was little change in the outlook among contacts in reporting Districts, with those expecting slight-to-modest growth in the months ahead.

Reports on manufacturing activity were favorable, although contacts in many Districts noted trade-related uncertainty.

Leading Economic Indicators Up Slightly in March

The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.4% in March to 111.9, following a 0.1% increase in February, and no change in January. In March the LEI for the U.S. recorded its largest monthly increase since September of last year. However, its six-month growth has continued to slow in the past several months.

In the six-month period ending March 2019, the leading economic index increased 0.4% (about a 0.7% annual rate), much slower than the growth of 2.8% (about a 5.6% annual rate) during the previous six months.

Subscribe Fall18

FREE SUBSCRIPTION*

• Print magazine
Digital magazine
• VALVE eNews
Read the latest issue

*to qualified valve professionals in the U.S./Canada

NEW BASICS 2019 300x250

Looking for a career in the Valve Industry?

ValveCareers Horiz

To learn more, visit the Valve Careers YouTube channel to watch the videos below or visit ValveCareers.com a special initiative of the Valve Manufacturers Association

  • Latest Post

  • Popular

  • Links

  • Events

New Products