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Contacts in some Districts suggested that persistent trade tensions and slower global growth weighed on activity… A number of Districts reported that manufacturers reduced their headcounts because orders were soft. However, some firms were more concerned about the longer-term availability of workers and subsequently chose to reduce hours rather than staff levels.” So-called “hard” economic...

Reuters reports “Oil prices largely held steady on Monday, recouping some early losses as investors took stock of global economic pressures that could impact oil demand.” With no major U.S. economic releases due out this morning, markets will be paying closer attention to Brexit developments, with the WSJ reporting “Mr. Johnson will try as soon...

Overseas, new German reports are due out on producer price inflation and business sentiment, but Brexit developments will remain in focus as U.K. Prime Minister Boris Johnson seeks approval for his Brexit deal in Parliament. On the monetary policy front, the Financial Times reports “Mario Draghi’s swansong at the ECB on Thursday is the week’s...

Diesel fuel prices were reportedly unchanged in the Midwest last week, while prices on the West Coast (less California) saw the sharpest increase for the week, rising 2½ cents to $3.24 per gallon.

But the two countries reached an agreement on Thursday October 17, with the US implying that it will refrain from imposing the steel tariff increase if Turkey halts its offensive. ‘Once Operation Peace Spring is paused, the US agrees not to pursue further imposition of sanctions under the executive order of October 14, 2019,’ the...