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7th Jul 2025 08:52USDaily Monitor

  • Capex rose in 2017-to-18 after the introduction of 100% bonus depreciation, but it was not the key driver.
  • Tapering bonus depreciation in 2023 and 2024 left capex unscathed; firms are now worried about tariffs.
  • Average hourly earnings growth is often volatile, but the recent slowdown has been flagged by surveys too. 

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Keywords for: 8 July 2025 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence