Economic update: Aug. 29, 2013
• A sharp drop in commercial aircraft orders in July dragged down new orders for manufactured durable goods, which fell 7.3% from June. Excluding transportation equipment, the month-to-month decline in durable goods orders was 0.6%
• The Conference Board’s Consumer Confidence Index edged up half a point in August from July to 81.5. The base year for the index is 1985.
• The national average retail diesel price increased 1.3 cents to $3.913 a gallon during the week ended Aug. 26. The national average price is 17.6 cents lower than the same week last year.
• U.S. freight railroads’ carloads were down 1.7% for the week ended Aug. 24 compared to the same week last year. Intermodal traffic was up 3.5%.
• First-time claims for unemployment insurance fell by 6,000 during the week ended Aug. 24 to a seasonally adjusted 331,000. The four-week moving average was 331,250, an increase of 750 from the previous week’s average.
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