8/8: METROINTELLIGENCE ECONOMIC UPDATE by P.Duffy

July jobs grew by 209,000 as unemployment ticked down to 4.3 percent

Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate declined slightly to 4.3 percent. Employment increased in food services and drinking places, professional and business services, and health care.

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IHS Markit: July services sector index grew at fastest pace since January

The seasonally adjusted IHS Markit U.S. Services Business Activity Index registered 54.7 in July, up from 54.2 in June. The latest reading signalled the largest expansion of business activity since January and the fourth consecutive month of accelerated growth.

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Durable goods orders jumped 3.0 percent in July, largest gain in 8 months

Factory goods orders jumped 3.0 percent in July.  This was the largest gain since October 2016 and followed two straight monthly declines.

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