Share the Wealth – February 1, 2018
Registered Investment Adviser Caleb Lawrence
The major averages recovered their early losses but couldn’t hold on into the final hour as small losses returned. This is shaping up to a be a tough for week for stocks and crypto currencies so far with Bitcoin testing $9,000 again.
Productivity fell .1% in the 4th quarter of 2017, this marks the first decline in productivity in 7-quarters, unit labor costs advanced 2% during the same period. For all of 2017 Productivity increased an anemic 1.2%, better than 2016 but continuing what is now a very long-term trend of weak productivity gains.
The Institute for Supply Management Manufacturing Index slipped .6 points in January to a still strong 59.1. Details of the report were generally unremarkable, prices paid hit 72.7.
Construction Spending advanced .7% in December to finish the year up 2.6% on gains in private construction spending.