U.S. Economic News
November 10, 2017
U.S. Economic Indicators
The University of Michigan Consumer Sentiment Index fell 2.9 points to 97.8 in the preliminary November reading, but is up 4.0 points on the year. The Index of Consumer Expectations declined to 87.6, and the Current Economic Conditions Index moderated to 113.6. Report
U.S. News
The Wall Street Journal reports that Senate Republicans’ tax reform plan, released yesterday, differs substantially from the House’s bill. To get a bill on the president’s desk by the end of the year, House and Senate Republicans will need to reconcile key differences in their respective tax plans, including the timing of a corporate tax cut and the number of individual tax brackets. WSJ
The Washington Post writes that many retailers took a hit in the third quarter as recent hurricanes deterred shoppers and unseasonably warm weather left large inventories of winter merchandise unsold. Department stores are hoping for a strong fourth quarter to offset any losses, though online shopping continues to pose a threat to many large retailers’ holiday sales. WaPo