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The headline August Conference Board Consumer Confidence index surprises to the downside, dropping 4.8 points (Consensus: +0.1 point; Decision Economics: -1.6 points), on the combination of a virtually steady “present situation” reading (-0.1 point) and read more
The Ryan-Romney Budget: Smaller Government, Larger Deficits? In a bold move, Republican presidential candidate Romney has tapped Representative Paul Ryan to be his running mate. While Romney will pull together his own budget if elected, read more
Overall July durable goods orders come in even firmer than expected, jumping 4.2% (Consensus and Decision Economics: +3.0%) from a prior-month level revised up by 0.3%. Commercial aircraft orders (+78.0%) were the big factor.
July existing home sales rise a somewhat less-than-expected 2.3% (Consensus: +3.4%; Decision Economics: +3.0%), from an unrevised June level.
The Obama administration will be forced to spell out cuts to meet the 10-year budgetary sequester in early September. The CBO estimates that $110B would be cut annually with reductions in defense discretionary, nondefense discretionary, read more