Economics Group: Weekly Economic & Financial Commentary
U.S. Review
Q3 Kicks It into High Gear— The factory sector has accelerated, with the ISM manufacturing index surging in August, factory orders showing strength beyond aircraft in July and power & manufacturing leading nonresidential construction spending.
— August’s ISM nonmanufacturing index jumped to its highest level in nine years, while the trade deficit narrowed in July, pointing to more broad-based growth in the economy.
— Nonfarm payrolls grew by a somewhat disappointing 142,000 in August, although all signs point to this being an anomaly. The unemployment rate ticked down to 6.1 percent.
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Wells Fargo Weekly Economic & Financial Commentary – September 5, 2014
Tags: economy