Economics Group: Weekly Economic & Financial Commentary
Economy Firms Heading into Fall
- The third print for Q2 GDP showed the economy advancing at 4.6 percent annualized clip compared to the initially reported 4.0 percent rate.
- Following record aircraft orders in July, durable goods orders plunged 18.2 percent in August. Excluding the volatile transportation sector, however, activity in the manufacturing sector continued to expand at a healthy clip.
- New homes sales continued to climb gradually higher in August. While existing home sales pulled back slightly in August, new home sales jumped 18.0 percent to a post-recession high.
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