USD News

Consumer prices in the U.S. rose in line with economist estimates in the month of July, according to a report released by the Labor Department on Tuesday, although the report also showed another bigger than expected increase in core consumer prices. The Labor Department said its consumer price index climbed by 0.3 percent in July after inching up by 0.1 percent in both May and June.

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A report released by the Commerce Department on Tuesday showed a slight uptick in U.S. construction spending in the month of July following a smaller than previously estimated slump in June. The Commerce Department said construction spending inched up by 0.1 percent to an annual rate of $1.289 trillion in July after sliding by 0.7 percent to a revised June rate of $1.288 trillion.

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With the Federal Reserve's next monetary policy decision looming, the central bank's Beige Book released Wednesday said the U.S. economy expanded at a modest pace through the end of August. The report noted continued concerns regarding tariffs and trade policy uncertainty but said the majority of businesses remain optimistic about the near-term outlook.

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Unless it wants to go back to buying treasuries, the Federal Reserve may have to lower rates.

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Reflecting low interest rates and solid demand, the National Association of Home Builders released a report on Tuesday showing an unexpected improvement in U.S. homebuilder confidence in the month of September. The report said the NAHB/Wells Fargo Housing Market Index inched up to 68 in September from an upwardly revised August reading of 67.

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After unexpectedly reporting a modest drop in U.S. industrial production in the previous month, the Federal Reserve released a report on Tuesday showing industrial production rebounded by much more than anticipated in the month of August. The report said industrial production climbed by 0.6 percent in August after edging down by a revised 0.1 percent in August.

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New residential construction in the U.S. showed a substantial rebound in the month of August, according to a report released by the Commerce Department on Wednesday. The report said housing starts soared by 12.3 percent to an annual rate of 1.364 million in August after slumping by 1.5 percent to a revised rate of 1.215 million in July.

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A report released by the Conference Board on Tuesday showed U.S. consumer confidence deteriorated by much more than anticipated in the month of September. The Conference Board said its consumer confidence index tumbled to 125.1 in September from a downwardly revised 134.2 in August. Economists had expected the consumer confidence index to dip to 133.0.

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A report released by the Institute for Supply Management on Tuesday showed U.S. manufacturing activity continued to contract in the month of September. The ISM said its purchasing managers index dropped to 47.8 in September from 49.1 in August, with a reading below 50 indicating a contraction in manufacturing activity. Economists had expected the index to inch up to 50.1.

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Construction spending in the U.S. crept up by much less than expected in the month of August, according to a report released by the Commerce Department on Tuesday. The report said construction spending inched up by 0.1 percent to an annual rate of $1.287 trillion in August after coming in nearly unchanged at a revised July estimate of $1.286 trillion.

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