Consumer confidence data for August increased to 53.5 from an upwardly revised 51 in July. The expectations index also jumped to 72.5 from 67.5. However, the present-situation index dropped to 24.9 in August compared with 26.4 in July.
U.S. home prices also rose as the Case-Shiller home-price indexes reported a 4.4% growth during the second quarter compared with the first quarter and a 3.6% growth compared with a year earlier. Prices showed a solid increase for the third straight month in June. However, year-over-year increases slowed in June compared with May's readings, and sales of previously owned homes fell sharply by 27% in July.
The Chicago purchasing managers index also declined in August to 56.7 from 62.3 in July. Although the percentage drop indicates that business expansion is slowing, it was still in line with expectations.
(looks not bad!)
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