Browsing: Newsbytes

Economy

The ISM Manufacturing Index registered 58.8 points in August, up 2.5 percentage points from the previous month, according to the Institute for Supply Management. August’s reading indicates a twelfth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. It was the highest reading since April 2011. Of the eighteen manufacturing industries,

Economy

Consumer Sentiment rose 3.4 points in August to 96.8, according to the University of Michigan Consumer Sentiment Index. Last month’s figure is 7.8% higher than the August 2016 index. The Current Economic Conditions Index fell 2.5 points to 110.9 but remained 3.9 points higher than the August 2016 estimate. The Consumer Expectations Index increased 7.2

Economy

Construction spending slowed in July for the third time in four months, landing at a seasonally adjusted annual level (SAAL) of $1,211.5 billion, according to the Census Bureau. June’s spending estimate was revised down to a rate of $1,219.3 billion. July’s figure is 1.8% greater than the July 2016 estimate of $1,189.8 billion. Total private

Economy

Total nonfarm payroll employment rose by 156,000 in August, a decrease from July’s downwardly revised figure of 189,000, according to the Bureau of Labor Statistics. The national unemployment rate ticked up to 4.4%, staying within a 10 basis point range in the last five months. Private service-providing industries added a net 95,000 jobs, led by

Compliance and Risk

In a comment letter to the Federal Trade Commission today, the American Bankers Association urged the FTC not to impose any additional barriers on the ability of banks to use email to communicate with their customers.

Human Resources

The Equal Employment Opportunity Commission on Tuesday announced that it would postpone the effective date of changes to the EEO-1 report that were finalized last September while the Office of Management and Budget conducts a review to determine whether the revised form meets the standards of the Paperwork Reduction Act.

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