Strong U.S. labor market

According to a report released today by the private ADP research institute, the private sector created 291’000 jobs in January 2020. In particular, medium-sized firms created many new jobs. This report shows that the U.S. economy is in a solid state. However, we do not yet know how the coronavirus will affect the U.S. economy. At the moment, it is too early to assess the economic consequences of the coronavirus. Obviously, economic growth may be considerably reduced under a serious scenario.

In another report released by the Bureau of Economic Analysis (BEA), the U.S. trade deficit fell in 2019 to $616.7bn.

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