Newsbytes

Homebuilder Confidence Down in December

The National Association of Home Builders/Wells Fargo Housing Market Index fell to 56 in December, four points below November’s reading. This is the lowest reading since May 2015. “We are hearing from builders that consumer demand exists, but that customers are hesitating to make a purchase because of rising home costs,” said NAHB Chairman Randy Noel, a custom home builder ...

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IRS Issues Highly Anticipated Base Erosion Proposal

The Internal Revenue Service on Thursday issued a long-awaited proposal interpreting a section of last year’s tax reform law that seeks to combat tax avoidance through deductible payments made in the U.S. into other tax jurisdictions

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Industrial Production Rose 0.6 percent in November

Industrial production increased 0.6 percent in November after falling 0.2 percent in October, according to the Federal Reserve. Capacity utilization was 78.5 percent in November, a rate that is 1.3 points below its long-run average. Manufacturing output was unchanged after declining 0.1 percent last month. Production of durable goods increased 0.2 percent, while nondurable goods production decreased 0.2 percent. Capacity ...

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Retail Sales Rose 0.2 Percent in November

There were $513.5 billion in retail and food service sales in November, up 0.2 percent from the previous month and 4.2 percent from November 2017, according to the U.S. Census Bureau. October’s figure was revised down up 1.1 percent. Core retail sales – excluding automobiles and parts – rose 0.2 percent. Year-over-year core sales increased 4.9 percent. Retail trade sales ...

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