Americans increased spending in September and their incomes ticked up, a positive sign for the economy’s main engine heading into the fourth quarter.
The U.S. economy expanded at a 3.5 percent pace in the third quarter as consumers opened their wallets, businesses restocked inventories and governments boosted spending, marking the strongest back-to-back quarters of growth since 2014.
The Conference Board's Leading Economic Index for the U.S. increased by 0.5 percent last month, in line with what economists polled by Refinitiv expected.
Job openings hit a fresh record in August, indicating companies could face more inflationary pressures ahead with a tight labor market. The vacancies level hit 7.14 million for the month, according to the Job Openings
A combination of lower corporate taxes and slashing of regulations by the Trump administration has manufacturers on pace for their most optimistic year on record, according to the latest National Association of Manufacturers survey.
New orders for U.S.-made goods recorded their biggest increase in nearly a year in August, boosted by a surge in demand for aircraft, but signs of weakness in business spending on equipment suggested that the