Economic News - September 2, 2008

Manufacturing Report on Business - August 2008

• Purchasing Managers Index (PMI): 49.9


• 50+ represents growing economic conditions


• Monthly Change: down 0.1

Construction Spending - July 2008

• Total Construction Spending: $1,084.4billion


• Monthly Change: Down 0.6%


• Year-to-year Change: Down 4.8%

Some Dissent in Discount Minutes

Fed regional banks left the discount rate alone last month because their
policy achieved an "appropriate balance" between risks to the economy
and inflation. Some banks wanted to raise the rate.

Manufacturing Slows, But New Orders Rise

Manufacturing activity slowed last month but only slightly, and an increase in
exports and new orders shows that the sector remains a bright spot for
the struggling U.S. economy.

OECD Sees Slow Economic Growth

Developed economies will continue to grow slowly, if at all, for the remainder of
this year, the OECD said. The research group sees housing woes
spreading in Europe.

Australia Economic Growth Slows to Weakest Pace in Two Years on Consumers

Australia's economic expansion slowed in the second quarter to the weakest pace in two years as
consumers reduced spending, reinforcing the central bank's decision to cut interest rates for the first time since 2001.

U.K. Consumer Confidence Stays at Four-Year Low as Economic Growth Stalls

British consumer confidence held at the lowest level in at least four years in August after economic
growth stalled, Nationwide Building Society said.

Manufacturing in U.S. Falls First Time in Three Months as Investments Cut

A measure of U.S. manufacturing was little changed in August as gains in exports helped offset
falling domestic demand.

Consumer confidence up, still near historic low: survey

NEW YORK

(Reuters) - American consumers' confidence rose in the latest week on
the back of a better perception of the U.S. buying climate, but it is
still near its historic low, a survey showed on Tuesday.

Mexican e-commerce seen growing 70 percent in 2008 

MEXICO CITY, Sept 2 (Reuters) - Mexican firms will likely sell
70 percent more goods and services over the Internet this year,
mostly to people buying plane tickets and computers, experts
predicted on Tuesday.