state and local taxes

Capex and Taxes; What The Corporate Sector Is Saying About the Economy

By Jeffrey P. Snider|2018-09-04T16:57:57-04:00September 4th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Private US businesses are not building new facilities, or renovating old ones, at a rate that suggests the economy is doing well. Let alone booming. For more than two years now, the aggregate level of Private Non-residential Construction Spending has been flat. According to the Census Bureau in figures released today, construction capex in July 2018 (seasonally adjusted) was less [...]

The Construction Example

Construction spending rose slightly in August after two months of serious declines. At a seasonally-adjusted annual rate of $1.22 trillion, that’s slightly less than the estimate for November 2016 when “reflation” (sentiment) was at its apex. It’s a pattern that we see repeated throughout the economic accounts; some growth in the second half of last year but then instead of [...]

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