The manufacturing purchasing managers’ index rose to 47.6 in August, up from 46.4, but remained under the 48.7 that is considered neither an expansion or contraction. … READ MORE >
Personal spending grows hot in July as inflation stabilizes
American consumers remained in the position of strength when it came to spending and income growth this summer as inflation stabilized further and the labor market stayed resilient. … READ MORE >
Job openings drop to lowest in more than two years
Job openings fell to 8.8 million in July, staying under 9 million for the first time since March 2021, according to the Bureau of Labor Statistics on Tuesday. … READ MORE >
Business investment loses momentum in July
Orders for capital goods that exclude defense and aircraft—a proxy for future business spending—rose by 0.1% on the month. That followed a downward revision in June that reduced a 0.1% gain to a 0.4% decline. … READ MORE >
New home sales remain bright spot in housing, rising on strong supply
Sales of new homes increased by 4.4% in July to 714,000, according to Commerce Department data released on Wednesday. … READ MORE >
Existing home sales fall near January low as rates surge
July sales were much lower than expected, dropping by 2.2% on the month compared to a forecasted decline of only 0.2% earlier. … READ MORE >
Industrial production and housing rebound in July, affirming GDP growth outlook
Industrial production, housing starts and permits rebounded in July, affirming RSM’s third-quarter GDP growth outlook. … READ MORE >
Robust retail sales data in July raises Q3 GDP forecast
American consumers continued to show a robust spending appetite in July as sales from retail and food services came in much hotter than expected. … READ MORE >
Producer prices, consumer sentiment data show signs of more price stability
Together with Thursday’s data on the consumer price index, this indicates that the bar for another rate hike in September is getting higher. … READ MORE >
Near-target inflation fuels hope of soft landing for economy
Inflation stabilized further in July as the consumer price index data met expectations, the Bureau of Labor Statistics reported on Thursday.
The slight uptick in annual inflation to 3.2% from 3.0% could be dismissed due to the base year effect, as inflation has come down fast from a peak in June last year. … READ MORE >