The anecdotal evidence on whether firms are responding to the partial-expensing provision is sparse and somewhat contradictory. According to a summary of commentary on current economic conditions prepared by the San Francisco Fed in September, a number of contacted firms planned increases in capital spending, yet there was no mention of partial expensing.
The preview of the BLS benchmark revision leaves average job gains over the year through March solidly above the pace required to accommodate growth in the workforce over that time, but where we had seen a booming job market, we now see more-moderate growth.