What Choice Could Signal Fed Faith in Economy?
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HEADLINES Motor vehicle sales surge in August. Despite a late Labor Day (cutting into August sales numbers), U.S. automakers posted big gains, achieving the strongest results since July 2005.[i] Construction spending booms in July. Spending on construction activity reached a seven-year high in July, increasing by 13.7% as compared to July 2014.[ii] Factory orders increase in July. New orders for U.S. manufactured goods rose for a second straight month in July, indicating that demand remains strong despite a higher dollar and soft global demand.[iii] Mortgage applications soar on rate dip. The broad selloff in the stock market briefly pushed interest rates lower, sparking a surge in mortgage applications. Application volume surged 11.3% as compared to the week prior, putting applications up by 30% as compared to the same time last year.[iv] [i] http://www.foxbusiness.com/industries/2015/09/01/fiat-chrysler-august-sales-jump-2-top-views/ [iii] http://www.foxbusiness.com/economy-policy/2015/09/02/july-factory-orders-boosted-by-strong-autos/ [iv] http://www.cnbc.com/2015/09/02/mortgage-applications-soar-113-on-brief-rate-dip.html |