A rundown of recent movement in the US economy:
On October 5, we learned that the unemployment rate has dropped to 7.8%. This decrease was not a result of more discouraged people leaving the workforce. Click here for a visual breakdown of the jobs report and here for details on how unemployment is calculated and why the figure can be volatile.
The Bloomberg Consumer Comfort Index hit a three-month high in September, indicating that consumers are feeling better about the national economy, the buying climate, and personal finances.
Consumer spending rose 0.5% in August, due in part to higher gas prices. Chain retail sales in September beat estimates.
GDP was revised down for Q2 to a 1.3% annualized rate. Factory orders and industrial production were both down in August, indicating decreased demand and business investment that does not bode well for near-term economic expansion.
The charts below were produced by Econoday in conjunction with Haver Analytics. Click the link above each chart for extra analysis.
Bloomberg Consumer Comfort Index
Links: econoday.com, bloomberg.com, theatlantic.com
