InterOcean’s fourth quarter 2017 Manufacturing Update highlights the continued overall strength in the U.S. manufacturing sector. For the fourth consecutive quarter, the stock of capital equipment manufacturers far outpaced the overall equity market. However, performance was mixed, with several manufacturing industries underperforming the S&P 500. We believe sector performance was skewed by investors’ perceived imbalances of the effective tax rate benefits of the new tax law across differing industries.
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