Test of Northern Trust
We’re thankful for this year’s economic growth in the U.S., which has exceeded most expectations. A soft first quarter has been followed by two quarters in which real activity expanded at an annual pace exceeding 3%.
The elimination of personal exemptions is one of many features of the tax reform proposal presently being debated in Washington. If passed, the new regime would realign the finances of industries, households and even countries.
This month's forecast follows a wave of generally positive economic data that appeared to shake off the weather-related disruptions seen throughout the summer and early fall.
The current situation in Puerto Rico cannot be fully understood without a bit of a history lesson.
As expected, this month's forecast was a little more difficult to assemble. The influence of severe storms on economic activity and economic data made it harder to discern fundamental trends.