Economic Focus – Week In Review

WEEK-IN-REVIEW

Last week, the pending home sales index fell to 109.4 in August from 110.9 in July, but remains at a level that indicates healthy existing home sales over the next couple of months. The Conference Board’s consumer confidence index rose to 103.0 in September from a level of 101.3 in August, and consumers’ assessments of the job market is very strong, which should bode well for consumer spending and broader economic growth over the next few months. Jobless claims rose 10k to 227k for the week ending September 26th. Such a low level of claims indicates tight labor market conditions and economists believe that full employment may come sooner than later. [Read the full Week in Review for more in-depth analysis here.]

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