Economic HighlightsGross Domestic Product: Economic growth picked up in the 2nd and 3rd quarters, and analysts believe the expansion could continue in 2018. Labor: The unemployment rate dropped to 4.1% by October 2017, and some analysts believe it could fall even more in 2018. Inflation: While inflation is below the Federal Reserve’s 2% goal, the most recent readings show a healthy increase. If inflation continues on this path, the Fed will likely continue to slowly increase interest rates in 2018. Tax Changes in 2018 Many people are wondering how the new tax plan will affect markets and the economy in 2018. On January 1, a number of changes went into effect, including new tax brackets for citizens and a permanent tax rate reduction for corporations. As a result, this law may impact both economic performance and your individual bottom line. If you have any questions about how to prepare for what lies ahead – or want more details on what we expect in 2018 – contact us any time.
ECONOMIC CALENDARMonday: Markets Closed for New Year’s Day Tuesday: PMI Manufacturing Index Wednesday: Motor Vehicle Sales, ISM Mfg Index, Construction Spending Thursday: ADP Employment Report, Jobless Claims Friday: Employment Situation, Factory Orders, ISM Non-Mfg Index
Quote Of The Week
“Every individual matters. Every individual has a role to play. Every individual makes a difference.” – Jane Goodall