US economy: employment: The US created 500.000 fewer Jobs since 2018 than previously reported

U.S. created 500,000 fewer jobs since 2018 than previously reported, new figures show -

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https://on.mktw.net/2TQOzMA

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USA - Corporate America: Amazon: biggest company in the world, paid no US Federal tax in 2018

Amazon paid no federal tax for 2018 – but how much profit did it earn?

Note EU-Digest: "Amazon made $ 11.2 billion in 2018 "

Read more at: 

https://www.theguardian.com/news/datablog/2019/feb/22/amazon-taxes-federal-benefits?CMP=Share_AndroidApp_Blogger

EU Alternative Clean Energy - Windpower: Europe adds 2.6 GW of offshore wind in 2018

Irish Windpark

The European offshore wind industry added 2,649 MW of net capacity in 2018, the bulk of which in the UK and Germany, but saw installations drop 15.8% from the record 2017, show statistics by WindEurope, released today.

The capacity additions bring Europe’s total offshore wind capacity to 18,499 MW, coming from 105 plants in 11 countries. A total of 409 wind turbines across 18 wind farms started generating power in 2018. Most of the machines were installed in the UK and Germany -- 1,312 MW and 969 MW, respectively. The two countries accounted for 85% of Europe’s fresh offshore wind capacity and were followed by Belgium with 309 MW and Denmark with 61 MW.

“The technology keeps developing. The turbines keep getting bigger. And the costs keep falling. It’s now no more expensive to build offshore wind than it is to build coal or gas plants,” WindEurope’s CEO Giles Dickson said.

In the past year, EUR 10.3 billion (USD 11.7bn) of projects, representing 4.2 GW of capacity, reached final investment decisions (FIDs). The investment amount is 37% higher in annual terms compared to 2017, while the capacity covered rose by 91% due to the quickly falling costs. This amount has supported the 4.2 GW of projects, that are expected to come online in the next couple of years.

A Danish offshore Windpark

WindEurope highlighted in the statistics that turbines and wind farms are getting larger, with the average turbine size reaching 6.8 MW last year, or 15% greater than it was in 2017. The biggest offshore wind turbine, MHI Vestas Offshore Wind's machine with a capacity of 8.8 MW, was switched on at the 657-MW Walney 3 Extension offshore wind farm in the UK. In terms of manufacturers, Siemens Gamesa Renewable Energy (BME:SGRE) and MHI Vestas were responsible for 95% of all connected turbines in 2018, with shares of 62% and 33% respectively.

According to WindEurope’s data, six offshore wind parks are currently being built in Europe, among which is the 1,218-MW Hornsea 1 in the North Sea, the first offshore complex globally with a capacity exceeding 1 GW.

WindEurope’s CEO pointed out that more governments are “recognising the merits of offshore wind,” giving Poland as an example and its plans to add 10 GW by 2040, while there are still some that are not taking advantage of offshore wind’s potential, including Sweden and France.

Read more: Europe adds 2.6 GW of offshore wind in 2018

U.S. Economic Forecast: Growth of the economy to continue through 2018

For the first time since the middle of 2014, the US economy has sustained 3 percent growth for two consecutive quarters, providing strong momentum into next year. The current Conference Board forecast calls for 2.8 percent growth during the final quarter of 2017 and 2.5 percent growth in 2018.

This would represent the economy’s best 2-year run since 2005.

Business investment has awakened from the doldrums this year, rising by more than 4 percent after falling into negative territory in 2016. Confidence in the manufacturing sector has been especially strong.

The composition of growth supports a long-term improvement in productivity. Capital equipment has risen at an 8.7 percent annual rate during the past two quarters, while investment in warehouse structures is up more than 20 percent since the end of last year. These investments demonstrate a renewed firm commitment to increased efficiency.

Consumer spending eased a bit in the third quarter, but with The Conference Board’s Consumer Confidence Index still strong and housing prices rising, expect a robust holiday season.

One encouraging sign was the pickup in motor vehicle spending thanks to renewed demand following the two hurricanes. Should employment growth rebound quickly from last month’s storm related decline, tighter labor markets should translate into a renewed wage acceleration which could boost spending late this year or into 2018. The possibility of federal income tax cuts could do the same.

The economy enters 2018 in good position to maintain strong growth from 2017.

Current Fed chair Janet Yellen and new Fed chair nominee Jerome Powell may raise rates slightly faster as a result. These expectations have led long-term rates to rise modestly.

The dollar has also started strengthening since early September after weakening through much of 2017, creating less favorable terms of trade. Higher capital costs and the possibility of a less supportive external environment for growth have not rattled the market yet.

With growth prospects strong for 2018, profits should grow robustly as well, rewarding those businesses that increase investment levels.

Read more: U.S. Forecast | The Conference Board