Private sector employment rose by 237,000 jobs in August, up 18 percent from July
Private sector employment increased by 237,000 jobs from July to August according to the August ADP National Employment Report. This compares to 201,000 new jobs in July and 141,000 in August 2016.
Second quarter GDP growth rises to 3.0 percent in second estimate
Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2017 according to the “second” estimate released by the Bureau of Economic Analysis. The second GDP estimate is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 2.6 percent.
Case-Shiller Index up 0.9 percent in June and 5.8 percent year-on-year
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.8% annual gain in June, up from 5.7% the previous month. Before seasonal adjustment, the National Index posted a month-over-month gain of 0.9% in June.
Consumer confidence increases in August to 16-year high
Consumer confidence increased in August following a moderate improvement in July. Consumers’ more buoyant assessment of present-day conditions was the primary driver of the boost in confidence, with the Present Situation Index continuing to hover at a 16-year high. Consumers’ short-term expectations were relatively flat, though still optimistic, suggesting that they do not anticipate an acceleration in the pace of economic activity in the months ahead.
State Street Investor Confidence Index dips 2.1 points in August
The Global Investor Confidence Index decreased to 106.8, down 2.1 points from July’s revised reading of 108.9. The decline in sentiment was driven by a 4.9 point drop in the European ICI to 89.3 along with the 0.3 point decrease in the North American ICI to 111.8. By contrast, the Asian ICI rose by 3.3 points to 99.3.