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Increase In US Manufacturing Activity

James Boston
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The Federal Reserve Bank of Dallas has published a regional update to the manufacturing sector in the form of it’s respected Dallas Fed Manufacturing Activity Survey. The September reading on this index now stands at 10.8, as a guide the August reported number was 10.5 and markets were anticipating a reading of just 7.1 this afternoon.

The National Association of Realtors has also provided some market updates for the month of August. The Pending Home Sales indicator is showing a change of -1.0% when measured month on month, this is in comparison to the July fall of -0.5%, market consensus estimates were for a rise of 3.3% in these latest figures. The year on year reading is showing a fall of -2.2%, this is in comparison to the previous month’s recording of -1.4%, the consensus anticipated figure was for a fall of -2.7% today.

An average of a US individuals income and expenditure activities are tracked by the US Department of Commerce and made available as market data in the form of Personal Income and Expenditure figures. The latest readings are showing that Personal Income has risen 0.3% to August when measured month on month, this is the same as the increase of 0.3% in July and the market consensus estimate was 0.2% for this latest reading. On the expenditure side, the Personal Spending change for August is 0.5% month on month, this compares to a rise of 0.3% in July and an anticipated figure of -0.2% in these latest figures.

It is important to read the change in the spending figure in the context of the inflationary situation in order to discern whether any changes are related to price increases or to consumer confidence. The deflator figure comes in the form of the Personal Consumer Expenditure Price Index and the latest number for August is showing a month on month change of 0.0%.

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