1/9: MetroIntelligence Economic Update by P. DUFFY

ADP:  Private sector job growth rose by another 202,000 in December

Private-sector employment increased by 202,000 from November to December.  This rate of job growth compares to 124,000 in November and 264,000 in December 2019.

https://www.adpemploymentreport.com/2019/December/NER/NER-December-2019.aspx

November U.S. trade deficit fell 8.2 percent, down 0.7 percent YTD vs. 2018

The U.S. trade deficit fell 8.2 percent to $43.1 billion in November, with imports falling 1.0 percent and exports rising 0.7 percent. Year-to-date through November, overall trade deficit decreased $3.9 billion, or 0.7 percent, from the same period in 2018.

https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf

December service sector sector index rose 1.1 points to 55.0

The NMI® registered 55 percent, which is 1.1 percentage points higher than the November reading of 53.9 percent. The respondents are positive about the potential resolution on tariffs. Capacity constraints have eased a bit; however, respondents continue to have difficulty with labor resources.

https://www.instituteforsupplymanagement.org/ISMReport/NonMfgROB.cfm?SSO=1