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Daily Roundup of Key US Economic Data for Sept. 1

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The ISM manufacturing index fell to 54.6 in August from a 55.6 level in July, led by declines in the index readings for new orders, production and employment, while the prices paid reading held steady.

The S&P Global manufacturing PMI was revised higher to 53.9 in August, right in line with the previous month.

Construction spending fell by 0.5% in July after flat reading in June. Private residential construction fell by 1.3%, with single-family construction down 3.2%, multi-family construction up 0.2% and remodeling activity up 0.3%.

Private nonresidential building rose by 0.4% and public construction fell by 0.2%.

The RealClearMarkets's sentiment index, the first consumer measure for September, rose to 45.6 from 45.1 in August on increases in two of the three components. Any reading below 50 indicates more pessimism than optimism. The gains were due to increased investor confidence as non-investor confidence declined in the month.

July job openings data showed a modest increase, but hiring declined in the month.

The Dallas Fed's services reading fell to 4.2 in August from 6.6 in July, indicating less widespread expansion.

Redbook reported that US same-store retail sales were up 9.6% year-over-year in the week ended Aug. 29, faster than a 9.1% gain in the prior week, with sales lifted by back-to-school shopping.

The Q3 GDP nowcast estimate from the Atlanta Fed is for a 4.8% gain, up from the previous estimate of a 4.6% gain.

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Daily Roundup of Key US Economic Data for Sept. 1 | FINWIRES