In economic news:

Private nonfarm business sector multifactor productivity increased 0.9 percent in 2017, according to new Bureau of Labor Statistics data. This follows a decrease of 0.6 percent in 2016. The 2017 increase reflected a 2.9-percent increase in output and a 2.0-percent increase in the combined inputs of capital and labor. Capital services grew by 2.2 percent. Labor input—the combined effect of hours worked and labor composition—grew by 1.9 percent.

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