Report | Economic insight for November 22, 2017
We have many things to be thankful for in the economy. U.S. consumers continue to spend, propelling the economy. We anticipate that retail sales should grow by 4 percent to 4.5 percent this year, supporting strong retail centers. Consumers helped inflation data to strengthen a bit in October, halting a slowdown in inflation that began early in 2017. With the underlying trend firming and recent inflation growing faster than trend, the Fed will remain confident in its decision to hike interest rates next month. The corporate sector is rebounding after some hurricane-related distortions. And we await a crucial vote in the Senate on tax reform next week which will provide some needed clarity on the outlook for 2018.
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