Markit Economics released its Flash U.S. Services PMI for August. The report indicated that the flash reading of America’s Services PMI dropped to 58.5 from July’s reading of 60.8.
The pace of new-home sales fell to the slowest in four months in July, signaling U.S. real estate lacks the vigor to propel faster growth in the economy. Purchases unexpectedly declined 2.4 percent to a 412,000 annualized pace
Orders for big-ticket manufactured goods jumped to a record in July. Purchases of durable goods, products such as airplanes, cars and heavy machinery designed to last at least three years, rose a seasonally adjusted 22.6% to $300.1 billion in July from the prior month, the Commerce Department said.
The Conference Board, a private research group, said its index of consumer confidence increased in U.S to 92.4 in August from a revised 90.3 in July.