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GDP is already poised to be at least one percentage point lower in the fourth quarter due to the government shutdown, according to the CBO report released Oct. 29.

The Conference Board’s gauge decreased 1 point to 94.6, the lowest since April, data out Oct. 28 showed. The median estimate in a Bloomberg survey of economists called for a reading of 93.4.

Private sector payrolls decreased by 32,000 after a revised 3,000 decline a month earlier, according to ADP Research data released Oct. 1.

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.