The bottom line
▪ The numbe r of tablet computers in use is expected to decline for the first time ever this year, according to research firm Forrester. Bigger smartphone screens are to blame, especially in developing markets like China and India, where more than 60_percent of smartphone owners have large-screen devices.
▪ Americans are expected to spend a record $316_billion on home improvements this year, up from $296_billion in 2016. Many homeowners are electing to stay put and remodel rather than trade up, because the inventory of affordable homes is so small.
The Wall Street Journal
▪ Despite eating an average of 35 pounds of cheese per year, Americans haven’t been able to dent a historic dairy glut. Dairy farmers literally poured nearly 50 million gallons of unsold milk into the ground last year, amid the lowest milk prices since the recession.
▪ Just 20 counties are responsible for roughly half of the new businesses created in the U.S. since the recession. That’s 0.64_percent of the 3,100 counties in the U.S.
▪ After 17 years, technology stocks have finally recovered from their dot-com bubble losses. Last week, the S&P_500 Information Technol ogy Index topped its previous record of 988.5, which was set in March 2000.
▪ One in 5 cars built in North Amer ica now comes from Mexico. Automakers built 16_percent more cars in Mexico during the first six months of this year compared with the same period in 2016, with the total value of cars imported to the U.S. from Mex ico increasing by 40_percent.
The Wall Street Journal ■