U.S. Economic News

August 28, 2020

U.S. Economic Indicators

The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit expanded to $79.3 billion in July from $71.0 billion in June. Meanwhile, wholesale inventories edged down 0.1% and retail inventories rose 1.2%. Census Bureau Report

Real disposable personal income declined 0.1% in July, while real personal consumption expenditures (PCE) rose 1.6%. The PCE price index rose 0.3% (up 1.0% Y/Y), and the core price index rose 0.3% (up 1.3% Y/Y). BEA Report

The University of Michigan Consumer Sentiment Index rose 1.6 points to 74.1 in the final August reading but is down 15.7 points from August of last year. The Index of Consumer Expectations rose 2.6 points to 68.5, while the Current Economic Conditions Index ticked up 0.1 point to 82.9. University of Michigan