2018 Is Looking Like Another Solid Economic Year

          Looking forward to 2018, it appears the U.S. economy will continue on its path of modest to moderate growth.  Two long-leading indicators – corporate profits and the BBB corporate bond yield – are signaling continued growth.  Building permits – which, depending on who you ask, are either a long-leading or leading indicator – point towards continued growth.  The 4-week moving average of initial unemployment claims are near their lowest level since the early 1970s while new orders for consumer goods and non-defense capital goods are in a multi-year uptrend.