Retail sales rose 0.2 percent in August, half the rate analysts expected. Consumer sentiment falls, mortgage rates rise, and Obama administration denies report that it has picked a new Fed chairman.
Midway negotiations end as one bidder drops out and Chicago Mayor Emanuel calls it quits. Also this week in the economy: unemployment falls for the wrong reasons; Beige Book reveals modest to moderate economic growth; and Yahoo! picks a new logo.
New home sales fell a whopping 13.4 percent in July, an unexpected drop that has darkened the sunny outlook for the US housing recovery. Climbing mortgage rates and higher prices could be to blame.
Housing starts fell sharply in June, with US builders starting work on fewer single- and multi-family homes. But there was some good news for the housing recovery: Permit applications for single-family homes hit a five-year high.
Retail sales increased for the third straight month in June, but fell well short of expectations. The retail sales report might hint that consumers are feeling the delayed effects of January's payroll tax hike, according to some analysts.
The economy added 195,000 jobs in June, a strong showing that beat analysts' expectations. Steady job growth is good news, but it means that higher interest rates and an easing of Federal Reserve bond buying could come sooner rather than later, putting investors on edge.
Half of the growth of professional and business services jobs came from temporary workers, according to the Labor Department. On balance, the pickup in temp work bodes well for future hiring.
GDP flashed 2.5 percent growth in the first quarter: much better than the fourth quarter but below expectations. Economists expect another slowdown in GDP growth for the summer.