January 6, 2020

State Chamber Update

According to a story in Bloomberg on Friday afternoon, “U.S. manufacturing closed out a tumultuous year with the weakest monthly performance since the end of the recession, with orders shrinking and factories continuing to dial back production.” Chicago Fed President Charles Evans pointed to trade policy uncertainty and the impacts that has had on soybeans and pork and other agriculture products like investment in farm equipment. Evans also talked about softness in the auto industry where sales numbers were impacted by the GM strike. However, he believes that 2020 will bring a strong labor market supporting the consumer and resilient GDP growth that will steady manufacturing through the year. Click here for the interview.

News You Can Use

Today we host our 183 ^rd Annual Dinner!

On Tuesday, November data for factory orders is public. On Wednesday, we learn of consumer credit results for November and ADP employment figures for December. We wrap up the first full week of 2020 on Friday with nonfarm payroll, unemployment rates and average hourly earnings figures for December.  

Michael J. Quaranta

President

Delaware State Chamber of Commerce

When Dogfish Head first opened its doors, it was Delaware’s first brewpub and the smallest commercial brewery in America. Nearly 25 years later it grew into the 12th largest brewery in the country, employing nearly 400 people, opened a full production brewery in Milton, its own hotel in Lewes, the Dogfish Inn, and a seafood restaurant in Rehoboth Beach, Chesapeake & Maine.

Co-founders Sam and Mariah Calagione will be our guest speakers tonight at our 183rd Annual Dinner!