REPORT U.S. Posts A Positive Number It Hasn’t Seen In Almost 50 Years, Trump Scores Huge
Source: https://goo.gl/FjHFS8
Although the left and their cronies have spent the last year and a half attacking and throwing temper tantrums as they have tried to overthrow a sitting president, there is no way for them to hide the stone cold facts of what the Trump presidency has meant to our nation and its people. President Trump in a year and a half into his presidency was able to do what no other president has been able to do since 1969 when the Republican Richard Nixon was president.
In new numbers released on Friday, we can now confirm what isn’t hard to notice if you take the time away from “resisting” in order to see what’s actually right in front of you. President Trump has given us the best economic numbers most of us have seen in our entire lifetime. The jobless rate is now officially the lowest since 1969.
In fact, In a separate report released on Thursday, the Labor Department has now said initial claims for state unemployment benefits have dropped 24,000 to a seasonally adjusted 209,000 for the week ended April 21. That’s the lowest number seen since December 1969.
More on these numbers via Yahoo Finance:
The number of Americans filing for unemployment benefits fell to the lowest level in more than 48 years last week and the goods trade deficit narrowed sharply in March amid strong export growth.
“The U.S. economy is still moving higher,” said Chris Rupkey, chief economist at MUFG in New York. “The pullback in goods orders from companies is not a red flag for the economic outlook yet even if the caution light should be left on.”
The Commerce Department said orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, slipped 0.1 percent last month. Data for February was revised to show these so-called core capital goods increasing 0.9 percent instead of the previously reported 1.4 percent jump.
Economists polled by Reuters had forecast core capital goods orders rising 0.5 percent last month. Core capital goods orders increased 6.5 percent on a year-on-year basis.
Last month, orders for machinery fell 1.7 percent, the biggest decline since April 2016, after a gain of 0.3 percent in February. There were, however, increases in orders of primary metals, computers and electronic products, fabricated metals and electrical equipment, appliances and components.
Overall orders for durable goods, items ranging from toasters to aircraft that are meant to last three years or more, increased 2.6 percent in March as demand for transportation equipment rose 7.6 percent. That followed a 3.5 percent surge in durable goods orders in February.
Shipments of core capital goods declined 0.7 percent last month after a downwardly revised 1.0 percent increase in February. Core capital goods shipments are used to calculate equipment spending in the government’s gross domestic product measurement.
They were previously reported to have vaulted 1.4 percent in February. Business spending on equipment likely cooled in the first quarter after double-digit growth in the second half of 2017. The moderation in equipment investment is expected to have combined with a sharp slowdown in consumer spending to restrain economic growth in the first quarter.
U.S. Treasury yields held at lower levels after the data. The dollar rose against a basket of currencies. Stocks on Wall Street were trading higher as strong earnings from Facebook and a handful of chipmakers powered technology shares.
According to a Reuters survey of economists, GDP growth likely slowed to a 2.0 percent annualized rate in the first three months of the year. The economy grew at a 2.9 percent pace in the fourth quarter. The government will publish its advance estimate of first-quarter GDP on Friday.
FISCAL STIMULUS
The anticipated slowdown in economic growth is likely to be temporary against the backdrop of a robust labor market that is expected to underpin consumer spending. The economy is also expected to get a boost from the Trump administration’s $1.5 trillion income tax cut package as well as increased government spending, which should also support business investment.
“We still expect investment growth to pick up over the rest of the year, as tax cuts boost domestic demand and capacity constrains bite,” said Michael Pearce, a senior U.S. economist at Capital Economics in New York.
In a separate report on Thursday, the Labor Department said initial claims for state unemployment benefits dropped 24,000 to a seasonally adjusted 209,000 for the week ended April 21, the lowest level since December 1969. Economists polled by Reuters had forecast claims falling to 230,000 in the latest week.