Total sales rose by 0.7% on the month, following an upward revision to 0.8% for August, the Commerce Department reported on Tuesday. … READ MORE >
Consumer sentiment hits 5-month low amid elevated inflation expectations
Consumer sentiment this month dropped to the lowest since May. The decline stems from the rebound in inflation and weakened expectations due to a looming government shutdown. … READ MORE >
Producer inflation rose more than forecast in September
Overall prices for final demand rose by 0.5% on the month while energy prices increased by 3.3%, the Bureau of Labor Statistics reported on Wednesday. … READ MORE >
Excess savings are critical to the economic expansion’s duration
According to our analysis of revised BEA data, consumers are on a strong footing, with between $400 billion and $1.3 trillion in excess savings that they can draw upon as the economy moves back toward price stability. … READ MORE >
Initial jobless claims tick up in a still-tight labor market
New filings rose 2,000 to 207,000 for the week ending Sept. 30, lower than the median forecasts of 210,000. … READ MORE >
Service sector extends growth in September
The overall service index eased to 53.6 from 54.5 in August, above the 49.9 threshold that indicates expansion. … READ MORE >
Job openings surge unexpectedly in August
Job openings defied expectations in August, rising to 9.6 million, mostly from a sharp increase of 409,000 in professional and business services. … READ MORE >
Manufacturing sentiment improves for the first time in nearly a year
The sector’s overall index rose to 49% in September from 47.6% earlier, while the production subindex rose to 52.5% from 50%. … READ MORE >
American consumers remain resilient as shutdown looms
Despite a rise in overall inflation because of higher oil prices, core inflation and spending volume remained soft in August. … READ MORE >
Jobless claims hold steady as pending home sales plunge
Initial jobless claims inched up by only 2,000 last week to 204,000, remaining below the pre-pandemic average, while pending home sales plunged by 7.1% in August. … READ MORE >