Weekly Bottom Line
- The U.S. economy continued to churn out jobs at a solid pace. Non-farm employment grew by 1.6% over 2019, marking only a slight deceleration from the 1.7% recorded in 2018.
- The services side of the economy also continued to fare better than its manufacturing counterpart. The ISM Non-Manufacturing Index edged 1.1 points higher, to its highest level in seven months.
- The U.S. trade deficit dipped to its lowest level in three years as tariffs, among other factors, shifted trade flows.
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