Saturday, October 1, 2011
Wells Fargo's Weekly Economic & Financial Commentary- September 30, 2011
- The Consumer Confidence Index rose slightly to 45.4 during September as the expectations component improved 1.6 points to 54.0, while the present situation index fell for the fifth consecutive month to 32.5.
- The proportion of households reporting that jobs were hard to get rose 1.5 percent in September to 50.0, the highest reading since May 1983.
- Total personal income fell 0.1 percent in August, the first decline since October 2009, while spending on nondurable goods fell 0.4 percent following a 0.5 percent drop in July.
- Nondefense capital goods shipments excluding aircraft increased at a 16.2 percent three-month annualized pace in August, up from a 14.2 percent pace last month.
- Initial unemployment claims fell below 400,000 to their lowest level since early April, an encouraging sign for the labor market.