December industrial production handily beat consensus expectations, increasing 0.9% in December.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Jan. 19.
- Industrialized production data reveal an 11% annualized gain in industrial production over the last three months of the year, a pace not achieved since the first months of the expansion.
- The recently passed tax reform bill will only add to the demand for business equipment, which was already rising organically.
- A weak U.S. dollar is making U.S. manufactured good more attractive globally, boosting U.S. exports and manufacturing production.
- Accelerating global growth is also increasing demand from abroad.
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December retail sales came in at a robust pace, and November sales were revised higher, cementing a decent increase in real consumer spending for the fourth quarter.Read More ›
We think 2018 will be another year of above-average U.S. GDP growth.Read More ›
The labor market continues to firm but is not yet at the overheating stage.Read More ›
This is largely a corporate tax cut bill with temporary personal income tax relief mixed in.Read More ›