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.



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.



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.