Free Markets, Free People
Economic Statistics for 31 Aug 12
Here are today’s statistics on the state of the economy:
The Chicago PMI fell slightly to 53, but this is eclipsed by the new orders index jumping 2 points to 54.8.
The consumer sentiment index rose 0.7 to end at 74.3 this month, but the future expectations index is declining as gas prices rise.
Factory orders snapped back from June’s decline with a 2.8% increase for July. The big jump is led mainly by a 4.8% increase in durable goods from transportation orders for airplanes and autos. Ex-transportation, durables orders were up 0.7%. Capital goods orders show a big dip when aircraft orders are excluded. Despite the aircraft orders skewing the numbers, however, the overall report points to modest economic growth.