Activity in the industry around the American city of Chicago has increased less in August than a month earlier. This was announced by the Market Research Institute for Supply Management (ISM). The figure was also weaker than expected.
The purchasing manager index measuring activity around Chicago went to 51.2 of the 51.9 reported a month earlier. Economists, on average, calculated a level of 52.6 for the index, which, at a level above 50, points to growth and below that to contraction.
Consumer spending in the United States increased by 1.9% on a monthly basis in July. That’s what the U.S. Department of Commerce announced.
Economists had expected an average increase of 1.6 percent. In June, spending climbed with a revised 6.2 percent.
The personal incomes of American consumers increased unexpectedly by 0.4% in July.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.