WTO Cuts Trade Growth Expectation, Consumer Confidence Rises to Highs, Durable Goods Decline and New Home Sales Decline
- The World Trade Organization cut its trade growth outlook for 2016 and 2017 nearly in half for both periods citing many anticipated macroeconomic and geopolitical headwinds in the years to come. The Wall Street Journal
- Consumer confidence rose in September to 104.1, the highest level since August 2007; the assessment was led by strong views of labor market health. The Wall Street Journal
- Durable goods orders ex. defense, considered a leading indicator of manufacturing activity, unexpectedly fell by -0.4% following a downward revision to August’s figure. Bloomberg
- New home sales for August dropped sharply from July’s near 9-year high, however still beating analyst report expectations and the median forecast. MarketWatch