U.S. Economic News

March 6, 2018

U.S. Economic Indicators

New factory orders for manufactured goods fell 1.4% in January following a 1.8% increase in December, but are up 8.4% on the year. New orders excluding transportation increased 0.4% while new orders for non-defense capital goods excluding aircraft fell 0.3%. Census Bureau Report

U.S. News

Paul Hannon of the Wall Street Journal writes that global inflation in developed economies stalled in January despite expectations of a pickup. As global economic growth accelerates, many market-watchers have expected inflationary pressures to ramp up, though data show that inflation in OECD countries edged down in January, mainly due to weaker inflation in Europe. WSJ

According to the Wall Street Journal, more business income will be subject to state taxes because of changes to the federal corporate tax code. Now that the federal corporate tax rate has been lowered, businesses will have more income subject to state taxes, which may cause states to lower their corporate tax rates, spend the additional revenue, or lower individual tax rates. WSJ

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