Economics Group: Weekly Economic & Financial Commentary
Expansion Remains Strong for Q3
- Employment growth rebounded in September, with payrolls rising 248,000 and the unemployment rate falling to 5.9 percent.
- The U.S. consumer looks a bit stronger, with better monthly gains in personal income and spending for August.
- The ISM manufacturing index slipped in September, but remained firmly in expansion territory, which bodes well for industrial production and the economy.
- The housing market is still struggling as residential construction, home sales and prices all weakened.
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