The Journal Gazette
Tuesday, March 15, 2016 9:38 pm

Pence set to guide Parkview meeting

Staff, news services

The Indiana Economic Development Corp. will hold its September meeting at 11 a.m. Tuesday in the Tuthill 400 Club at Parkview Field in downtown Fort Wayne.

Gov. Mike Pence is scheduled to chair the public meeting, which is expected to last about an hour.

The IEDC awards state money to employers as incentives to invest in Indiana operations and create jobs here. Because economic development proposals are confidential before company officials make final site selections, IEDC officials will meet privately both before and after the open meeting to consider requests.

Trade deficit dips to 5-month low

The U.S. trade deficit fell in July to the lowest level in five months as exports posted a small gain while imports declined, reflecting a big drop in shipments of consumer goods such as cellphones.

The deficit narrowed to $41.9 billion in July, a 7.4 percent decline from a June imbalance of $45.2 billion, the Commerce Department reported Thursday. Exports were up a small 0.4 percent to $188.5 billion, helped by stronger sales of U.S.-made autos and machinery, while imports declined 1.1 percent to $230.4 billion.

US service firms expand in August

U.S. services companies expanded at a healthy pace in August, lifted by robust consumer spending resulting from steady job gains.

The Institute for Supply Management said Thursday that its services index slipped to 59 from 60.3 in the previous month. July’s reading was the highest since August 2005, and any reading over 50 indicates expansion.

The ISM is a trade group of purchasing managers. Its services survey covers businesses that employ 90 percent of workers, including construction firms and financial services.

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