Newsbytes

Industrial Production Slumps in August

Industrial production tumbled 0.9% in August after a 0.4% increase in July, according to the Federal Reserve. August represented the first decline in seven months. The release estimated Hurricane Harvey to be roughly responsible for a 0.75% reduction in total output. Manufacturing output fell 0.3% in August after a remaining unchanged in July. Production of durable goods increased 0.3%, but ...

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Retail Sales Dipped in August

There were $474.8 billion in retail and food service sales in August, down 0.2% from the previous month but up 3.2% from August 2016, according to the U.S. Census Bureau. July’s number was downwardly revised to reflect 0.3% growth. Core retail sales – excluding automobiles and parts – grew 0.2%. Year-over-year core sales increased 3.6%. Retail trade sales decreased 0.3% ...

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ABA Concerned about Feasibility of Small Biz Data Collection

As the Consumer Financial Protection Bureau prepares to implement Section 1071 of the Dodd-Frank Act -- which calls for the bureau to collect data on women-owned, minority-owned and small businesses -- ABA expressed concern today that the data collection will prove unable to fulfill its statutory objectives of providing insight on fair lending and community development needs.

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Treasury Sanctions Iranians Involved in 2011-12 Bank DDoS Attacks

The Treasury Department’s Office of Foreign Assets Control today announced sanctions against 11 entities and individuals for support of previously sanctioned Iranian actors and for malicious cyber-crime, including a series of distributed denial of service attacks against U.S. financial institutions.

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Consumer Prices Accelerated in August

The Consumer Price Index grew 0.4% in August on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.1% July increase. Much of August’s acceleration can be attributed to higher gasoline prices due to Hurricane Harvey. Over the last 12 months, the all-items index rose 1.9%. Prices for all items less food and energy, the ...

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