To boost the economy, President Donald Trump has said he wants “historic tax reform” that would benefit corporations and the middle class, a 10 percent increase in defense spending and $1 trillion worth of infrastructure improvements over the next decade.
The marine industry is a global enterprise. Builders, dealers, marinas, equipment manufacturers and other businesses are found worldwide, and there are major boat shows on all continents.
The calendar was crowded last week with reports on everything from retail sales and housing starts to inflation and interest rates, but two reports released Friday were among the best snapshots so far of the economy two months into the new Trump administration.
The headline news in the Labor Department’s February employment report — 235,000 new jobs and a 4.7 percent unemployment rate — cheered economy watchers, but it was not the only positive trend to be found among the fresh figures.
The Federal Reserve has raised interest rates only twice in the last decade, but recent remarks from Fed chairman Janet Yellen and some of her colleagues have convinced economists and the financial markets that an increase is likely to come next week.
As a key indicator of U.S. consumer confidence continues to reflect the nation’s partisan politics, economy watchers would be wise to follow the money, as in what Americans are willing to buy and how much they’re paying for it.
Every action prompts an equal and opposite reaction — it’s a basic law of physics. Contemplating major tariff and tax overhauls is no different, and the complexities have experts thinking about the ripple effects — from a strengthening dollar to raw material shortages.
A trio of strong reports last week gave U.S. economy watchers reason to cheer — retail sales, building permits and the leading economic index.
It has never been easy for companies to gauge Americans’ willingness to spend, but the nation’s deep partisan political divisions are making that judgment more difficult to render than usual.
The U.S. economy added 227,000 jobs in January in a show of strength that surprised the experts. The total was the highest in four months and it was significantly more than economists expected.
The housing market is always a reliable barometer of the U.S. economy because consumers need more faith in the future to buy a home than to make practically any other purchase they consider.