After the poor US durable goods orders data, there have been more signs of weakness in the global economy.
In Germany, business sentiment worsened in August as the Ifo institute's business climate index fell to 94.6 from 95.0 in July, while in the US, consumer optimism fell more than expected in August as the University of Michigan's measure of consumer confidence at the end of August fell to 89.1 from a 96.5 final reading for July.
There was also good news though. Job figures in the US have been good, according to this Reuters report.
Help-wanted ads in 51 major newspapers across the country edged up in July, according the Conference Board, a private research group. The help-wanted index rose to 39 from 38 in June and was the highest since April. The report was consistent with the July payrolls report issued earlier this month showing 207,000 non-farm jobs were added...
Earlier, the Labor Department said the number of Americans making new claims for jobless benefits fell by 4,000 last week. Initial claims fell to 315,000 in the week ended Aug. 20 from an upwardly revised 319,000 and was far below the 342,000 logged for the same period a year earlier... The four-week moving average of new claims, which smoothes out weekly volatility, rose to 315,000 from 313,750.
Manufacturing also held steady according to the report.
The Chicago Fed's Midwest factory index rose 0.1 percent in July and was up 2.7 percent from a year ago... Regional steel and machinery output jumped in July while auto production fell 1.5 percent.
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