The Wall Street JournalEconomy

The eurozone economy appears to have gained fresh momentum as 2017 draws to a close, an acceleration that suggests the $10 trillion economy may again partner the U.S. in supporting a stronger global expansion.

The OECD said the share of economic output taken by governments in developed economies as taxes has risen to its highest level since records began 50 years ago. But in the U.S., taxes as a share of GDP fell in 2016.

Cities and states across the U.S. are warily bracing for the elimination of the tax exemption on certain bonds they rely on to refinance old bonds.