U.S. Economic News
November 1, 2017
U.S. Economic Indicators
The ADP Employment Report shows that private-sector employment increased by 235,000 jobs in October, slightly above expectations of 210,000. The services sector added 150,000 jobs and the goods-producing sector added 85,000 jobs. ADP Report
The ISM Manufacturing Index fell 2.1 percentage points to 58.7 in October. The new orders index decreased 1.2 percentage points to 63.4 and the employment index edged down 0.5 percentage point to 59.8. ISM Report
Construction spending increased 0.3% in September to an annualized rate of $1.22 trillion. Public construction rose 2.6% but private construction edged down 0.4%. Census Report
U.S. News
The Wall Street Journal reports that the GOP tax plan will not lower tax rates for the highest-earning individuals. The plan will also reportedly delay the repeal of the estate tax in an effort to obtain support from some critics who have said that the proposed tax plan affords too many benefits to the wealthy. WSJ