Gary Siegel

Service sector activity "moderated in August," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "declined in August," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, although the manufacturing index reversed to negative 10 in August from positive 10 in July.

The region's non-manufacturing sector "continued to expand at a steady pace" in August, although the general business conditions index declined to 24.8 from 28.8 in July, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

The Chicago Fed National Activity Index for July climbed to 0.27 from a downwardly revised 0.05 in June, first reported as 0.16, while the three-month moving average (CFNAI-MA3) narrowed to negative 0.10 from a revised negative 0.19 in June, first reported as negative 0.12 the Federal Reserve Bank of Chicago reported Monday.

The time has come for the Federal Open Market Committee to resume raising rates, Federal Reserve Bank of San Francisco President John Williams said Thursday.

The composite index of Leading Economic Indicators was up 0.4% in July following an unrevised 0.3% gain in June, the Conference Board reported Thursday.

The region's manufacturing sector expanded in August, as the general business conditions index reversed to positive 2.0 from negative 2.9 in July, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The minutes from the Federal Open Market Committee's latest meeting show a somewhat divided panel, with some voters seeing the need for a rate increase soon, while others want more evidence that inflation will rise.

Conditions may allow for at least one rate increase this year, if projections are correct, Federal Reserve Bank of Atlanta President Dennis Lockhart said Tuesday.

Industrial production surged 0.7% in July, the Federal Reserve reported Tuesday.

The New York region's service sector activity "declined significantly," according to the Federal Reserve Bank of New York's August Business Leaders Survey, released Tuesday.

Builders' confidence in the market for new single-family homes was higher as the National Association of Home Builders' housing market index rose to 60 in August from a downwardly revised 58 in July.

The Empire State Manufacturing Survey showed "business activity in New York State declined slightly this month," the Federal Reserve Bank of New York reported Monday, as the general business conditions index slipped to negative 4.21 in August from positive 0.55 in July.

The University of Michigan's preliminary August consumer sentiment index reading was 90.4, compared to the final July 90.0, and the preliminary July 89.5, according to market sources

Labor market conditions were "little changed and momentum remained high in July," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) increased to 0.041 in July from a revised 0.027 in June, first reported as 0.015, according to the Bank.

The federal government ran a $112.8 billion deficit in July, the Treasury Department reported Wednesday.

Small business optimism was nearly flat in July, with the index of small business optimism creeping to 94.6 from 94.5 in June, according to the National Federation of Independent Business.

Consumers decreased their expectations for three-year inflation while their projections for one year out held steady, according to the July Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.

Noting he is not in a hurry to raise interest rates, Federal Reserve Board Governor Jerome Powell said in an interview that below-target inflation, the Federal Open Market Committee "can be patient," according to a published report.

The Federal Reserve's Labor Market Conditions Index, a compilation of 19 labor market measures, rose to positive 1.0 in July from a revised negative 0.1 in June, first reported as negative 1.9.