Economic Release Snapshot: Consumer Confidence Improves in August

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

Reports for the Week of August 26

Durable goods orders, July, preliminary (Monday)

• Expected/prior durable goods orders monthly change: +5.0%/–6.9%
• Actual durable goods orders change: +9.9%
• Expected/prior core durable goods orders monthly change: +0.0%/+0.1%
• Actual core durable goods orders change: –0.2%

Headline durable goods orders came in well above economist estimates in July due to a rise in volatile aircraft orders. Core orders, which strip out the impact of high-value transportation orders, fell modestly in July.

Conference Board Consumer Confidence, August (Tuesday)

• Expected/prior month consumer confidence: 100.8/101.9
• Actual consumer confidence: 103.3

Consumer confidence improved more than expected in August due to improving consumer views on both current and future economic conditions.

Personal spending and personal income, July (Friday)

• Expected/prior personal income monthly change: +0.2%/+0.2%
• Actual personal income change: +0.3%
• Expected/prior personal spending monthly change: +0.5%/+0.3%
• Actual personal spending change: +0.5%

Personal income and spending continued to improve in July, with income growth coming in slightly above expectations while spending was in line with economist forecasts.

Upcoming Reports for the Week of September 3

ISM Manufacturing, August (Tuesday)
Manufacturer confidence is set to improve yet remain in contractionary territory in August.

International trade balance, July (Wednesday)
The trade deficit is expected to widen in July after narrowing more than expected in June.

ISM Services, August (Thursday)
Service sector confidence is set to moderate slightly in August; however, the index is expected to remain in expansionary territory for the second consecutive month.

Employment report, August (Friday)
The August job report is expected to show stronger hiring during the month following a smaller-than-anticipated rise in jobs in July. The unemployment rate is set to drop modestly in August after increasing more than expected in July.