Economic News - August 26, 2008

Consumer Confidence Index - August 2008

Consumer Confidence Index: 56.9
Monthly Change: Up 5

Federal Open Market Committee Minutes - August 5, 2008

Unit labor costs apparently continued to increase at a restrained pace
during the second quarter, reflecting only moderate gains in worker
compensation and relatively strong productivity performance, with
little sign of higher overall inflation passing through to higher
worker compensation.

Case-Shiller Index - June 2008

Composite 20 Index: 167.69
Monthly Change: Down 0.85

New Home Sales - July 2008

Annual Sales Rate (Seasonally Adjusted): 515,000
Monthly Change: Up 2.4%
Annual Change: Down 35.3%

Home sales improving, snags in prices and inventories

Though the news has focused on some negatives in the housing statistics
out early this week, the overall picture is looking better than it has
for several months.

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Fed Minutes Show Split on Inflation Risk

Fed officials downgraded their economic forecast at their last
policy-setting meeting, according to meeting minutes. Some officials
appeared divided over the degree of the inflation threat and the extent
to which financial turmoil is weighing on the economy

Europe's Gloom Is Boon to Dollar

The dollar surged against the euro in early trading, spurred by downbeat
data out of Germany, while the British pound also stumbled. As the
economic picture in Europe darkens, the U.S. dollar is proving to be
the main beneficiary.

U.S. Economy: Consumer Confidence Increases as Slump in Home Prices Slows

Confidence among American consumers improved in August for a second month as the surge in gasoline
prices and the slide in home values abated.

Fed Officials Agreed Aug. 5 Next Rate Move Will Be Increase, Minutes Show

Federal Reserve officials agreed at their meeting this month that their next move in interest rates will be to raise them, while reaching no conclusion on
the timing of such a decision, records of the gathering show.

US confidence bounces; glimmer of hope in housing

Rate of monthly house price fall slows