So we're going to, as commissioner, I can see there are going to be very substantial tax refunds coming to working Americans in the first quarter. They'll change their withholding. They'll get a bump up in real incomes because of the expensing. We're seeing 12, 14% CapEx growth in the U.S. and historically, you have never seen a capex boom without seeing employment follow. You've got a capex boom and a productivity boom as well. 4.7% is much better than so many people expected last year. (18:00–18:05)
CLAIM
Asserts that there is 12-14% capital expenditure growth in the U.S.
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