Economic Development

Consumer spending increased last month, but consumer confidence didn’t follow.

The Conference Board Consumer Confidence Index, which had improved slightly in July, plummeted in August, the board said today. The index is now at 44.5, …

Consumer spending rose more than forecast in July as Americans dipped into savings to buy cars and cool their homes, showing the largest part of the economy is holding up, Bloomberg reported.

Purchases rose 0.8 …

Small businesses continued to hire in August, though employees worked fewer hours and were paid less, The Wall Street Journal reported.

According to Intuit Inc.s’ monthly small business employment index, small-business employment rose 0.18 percent …

A measure of manufacturing activity in the Midwest increased 0.5 percent in July, the Federal Reserve Bank of Chicago said today. Revised data show the index increased 0.3 percent in June. Regional output in July …

The personal incomes of Americans rose 0.3 percent in July, but their spending climbed even faster at 0.8 percent as purchases of automobiles surged, the U.S. Department of Commerce said today. The increase in spending …

The Thomson Reuters/University of Michigan’s consumer sentiment index edged up from its mid-August level but was still consistent with recession-era lows, CNBC reported today.

The final August reading on the overall index of consumer sentiment …

Striking workers at Verizon Communications pushed up new U.S. jobless claims last week, but there was little evidence that the recent stock market turmoil had scared businesses enough for them to cut workers, Reuters reported.…

A prolonged economic slump is taking a heavy toll on small businesses, with owners reporting sharp declines in profits and a bleaker outlook, The Wall Street Journal reported.

In an Office Depot survey of 1,000 …

The Congressional Budget Office (CBO) on Wednesday estimated that deficits over the next 10 years will total $3.5 trillion, about half of what was projected at the beginning of the year. The budget office also …

New orders for long-lasting U.S. manufactured goods surged in July on strong demand for transportation equipment, according to government data released on Wednesday, Reuters reported. A separate report indicated that sales in the public transit …