U.S. Economic News
July 19, 2017
U.S. Economic Indicators
Privately-owned housing starts rose 8.3% in June to a seasonally adjusted annual rate of 1.22 million (up 2.1% year-over-year). Housing permits jumped 7.4% to a 1.25 million annual pace in June and are up 5.1% on the year. Census Bureau Report
U.S. News
The Wall Street Journal reports that many U.S. retailers are beginning to employ robots do to jobs that previously could not be automated. Researchers say that tasks such as checking customers out, delivering purchased goods, and suggesting new products to customers are particularly vulnerable in coming years. WSJ
According to the Wall Street Journal, insurance companies are facing new uncertainties this week after Republicans failed to secure enough votes to move ahead with healthcare reform. While it appears as though the Affordable Care Act will remain in place this year, insurers are unsure as to how key elements of the law will be enforced under the current administration. WSJ
Richard Rubin of the Wall Street Journal writes that after failing to pass comprehensive health care reform, Republicans in Congress plan to move on to tax reform. The House Budget Committee plans to release a 2018 budget resolution this week to initiate the tax reform process, which may receive more bipartisan support than the attempt at healthcare reform. WSJ