U.S. Economic News
September 1, 2020
U.S. Economic Indicators
The ISM Manufacturing Index rose 1.8 points to 56.0 in August. The Employment Index rose 2.1 points to 46.4, while the New Orders Index rose 6.1 points to 67.6. ISM Report
Construction spending ticked up 0.1% in July to an annualized rate of $1.36 trillion. Private construction rose 0.6% while public construction declined 1.3%. Census Bureau Report
U.S. News
The Wall Street Journal reports that while the president’s payroll-tax deferral plan — intended to temporarily boost workers’ take-home pay — goes into effect today, few large employers are expected to participate. While the plan would provide consumers with larger paychecks through the end of this year, withholding levels would be doubled early next year with employers on the hook for implementation and repayment costs. WSJ