August | featured news

U.S. consumer spending rose in August as households stretched to pay for higher gasoline prices and factory activity in the Midwest contracted this month for the first time in three years, pointing to lackluster economic growth.

Unemployment rates in August rose in 26 states from July, but most states showed lower rates than a year ago, the federal government reported Friday. Nevada continued to lead the country with the highest unemployment rate, 12.1% in August.

Retail sales in the U.S. increased in August by the most in six months, boosted by demand for automobiles along with higher gasoline prices that left consumers with less to spend on other goods. The 0.9 percent gain followed a revised 0.6 percent advance in July that was smaller than initially reported, the Commerce Department said today in Washington. The median forecast of 84 economists surveyed by Bloomberg called for an increase of 0.8 percent. Sales slowed at department stores, apparel retailers and electronics outlets.

Fewer Americans applied for unemployment benefits last week, and a private survey showed businesses stepped up hiring in August. The data sketched a brighter outlook for the job market one day before the government reports on August employment.

Most retailers, including Costco Wholesale Corp and Limited Brands Inc , posted better-than-expected sales gains at existing stores in August, in what is expected to be a healthy month as parents and students wrapped up back-to-school purchases.

Despite some recently improving economic data, consumer confidence dropped in August to its lowest level since late last year, according to a leading indicator released Tuesday.

The number of Americans filing new claims for jobless benefits unexpectedly rose last week while US manufacturing improved only slightly in August, worrisome signs for an economy struggling to create enough jobs.

U.S. consumer sentiment improved in early August to the highest in three months as sales at retailers and low mortgage rates spurred Americans to boost their buying plans, a survey showed on Friday.

New single-family home sales in the United States fell in August to a 6-month low but the supply of homes available on the market dropped to a record low.

Strong auto production drove factory output higher for a second straight month in August. But manufacturing was otherwise weak last month, a troubling sign for the economy.