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U.S. customs duties climbed to a record in May, helping shrink the budget deficit for the month, while doubts remain about the persistence of the inflows.

The CBO handed Republicans a major political talking point, with projections showing the possibility for tariffs to bring in more federal revenue than would be lost by Trump's tax cut plan.

Hiring decelerated to the slowest pace in two years as sectors including transportation shed jobs, pointing to a weakened demand for workers.

While prices will rise for everyone, lower-income families are expected to lose a larger portion of their budgets because they tend to spend more of their earnings on goods.

The final December sentiment index increased to 74 from 71.8 last month, according to the University of Michigan. The median estimate in a Bloomberg survey called for a reading of 74.2.

US companies added the fewest number of workers since the start of the year and wage growth slowed, consistent with signs of a softer labor demand. But the transportation sector showed resilience.

U.S. companies boosted hiring last month by the most since July in a broad advance and some wage gains accelerated, pointing to solid demand for workers.

Applications for U.S. state unemployment benefits fell by the most in almost two months, offering some hope that the gradual recovery in the job market will continue despite a spike in COVID-19 infections and renewed business restrictions.

U.S. consumer confidence fell in November to a three-month low as the coronavirus resurgence prompted a slide in Americans’ expectations for the economy and job market.

Applications for U.S. state unemployment benefits rose for the first time in five weeks and remained well above pre-COVID levels, suggesting the labor market recovery is slowing amid a surging pandemic and fresh business restrictions.