The following US economic statistics were announced today:

Initial jobless claims fell sharply last week, down 12,000 to 365,000. The 4-week average rose to 371,250, however. Continuing claims fell 6000to 3.322 million.

ADP private payroll employment rose well above expectations to 201,000 in August, following a revised 173,000 total for July. This bodes well for tomorrow’s Employment Situation report.

The composite index from the ISM non-manufacturing survey for August rose 1.1 points to 53.7.

The Bloomberg Consumer Comfort Index fell rose slightly to -46.5.

The Challenger Job-Cut Report shows a total of 32,239 layoffs for August, the second lowest of the recovery.

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Dale Franks
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