9/4: MetroIntelligence Econ Update, P.DUFFY

Final August consumer sentiment index remained subdued due to higher prices and interest rates

Although there was a small uptick in late August, consumer sentiment remained at its lowest level since January. Most of the August decline was in the Current Economic Conditions Index, which fell to its lowest level since November 2016. These results stand in sharp contrast to the recent very favorable report on growth in the national economy.

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August Chicago PMI slipped 1.9 points from July but still up 6.9 percent year-on-year

The MNI Chicago Business Barometer slipped to a three-month low of 63.6 in August, down 1.9 points from July’s 65.5.  A softening in Supplier Deliveries, Order Backlogs and Employment offset gains in Production and New Orders, driving the decline in the Barometer. However, it still sits 6.9% higher on the year and continues to signal robust business conditions.

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2Q 2018 corporate profits rose 3.3 percent from previous quarter, 7.7 percent year-on-year 

Corporate profits rose 3.3 percent between the first and second quarters of 2018 to $72.4 billion.  During the first quarter of 2018, profits rose 1.2 percent from the preceding quarter.  Year-on-year, profits rose 7.7 percent.

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Gallup:  Engaged workers hits 34 percent, tying highest level since 2000

The percentage of “engaged” workers in the U.S. — those who are involved in, enthusiastic about and committed to their work and workplace — is now 34%, tying its highest level since Gallup began reporting the national figure in 2000.

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