July core Producer Price Index shows first decline since October 2015
The ‘core’ Producer Price Index for final demand less foods, energy, and trade services fell 0.1 percent in July — the first decrease since October 2015 – but was up 1.7 percent year-on-year. However, the overall Producer Price Index for final demand advanced 0.2 percent in July, and was also up 1.7 year-on-year.
Gallup: Small Business Index improved 7 points in 3Q 2019
In the latest quarterly Wells Fargo/Gallup Small Business Index survey, conducted July 8-12, 2019, the overall index is +136, up from the +129 recorded in Quarter 2. More broadly, small-business owners’ optimism about their financial outlook over the next year has also improved, with 79% now saying they are more optimistic than pessimistic — up from 70% in Quarter 2.
As Mortgage-Interest Deduction Vanishes, Housing Market Offers a Shrug
The mortgage-interest deduction, a beloved tax break bound tightly to the American dream of homeownership, once seemed politically invincible. Then it nearly vanished in middle-class neighborhoods across the country, and it appears that hardly anyone noticed.