Gary Siegel

According to the ISM's monthly report on business, the ISM index gained to 59.0 in August from 57.1 in July.

Construction spending grew 1.8% in July, the Commerce Department said Tuesday, and is 8.2% above the July 2013 level.

The University of Michigan's final August consumer sentiment index reading was 82.5, compared to the preliminary August 79.2, and the final July 81.8, according to market sources.

The Chicago Purchasing Managers' Business Barometer surged to 64.3 in August from 52.6 in July, the National Association of Purchasing Management-Chicago said Friday.

The seasonally adjusted Milwaukee Report on Business fell to 59.6 in August from 63.9 in July, the Institute for Supply Management-Milwaukee reported Friday.

The Midwest Economy Index grew to 0.62 in July from a revised 0.56 in June, the Federal Reserve Bank of Chicago reported Friday.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "slowed slightly, but producers' expectations for future factory remained solid" in August, according to the bank's monthly manufacturing survey, released Thursday.

Pending home sales grew 3.3% to an index reading of 105.9 in July, after a revised 1.3% decline to 102.5 in June, according to a report released Thursday by the National Association of Realtors.

Texas service sector activity showed slightly slower expansion in August, according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index dipped to 21.0 from 21.5.

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

Manufacturing activity in the central Atlantic region "continued to improve" in August, according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index rose to 12 in August from 7in July.

The consumer confidence index gained to 92.4 in August from a revised 90.3 last month, The Conference Board reported Tuesday.

Texas factory activity, as measured by the production index, "increased again in August, albeit at a slower pace than in recent months," according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released Monday.

Sales of new single-family homes fell 2.4% to a 412,000 seasonally adjusted annual rate in July, according to data released by the Commerce Department Monday.

The Chicago Fed National Activity Index for July gained to 0.39 from a revised 0.21 reading in June, while the three-month moving average (CFNAI-MA3) gained to 0.25 from a revised 0.21 in June, the Federal Reserve Bank of Chicago reported Monday.

While the economy has made "considerable progress" and in the past year the jobless rate has dropped "at a surprisingly rapid pace," the labor market hasn't fully recovered, Federal Reserve Board Chair Janet Yellen said Friday.

The Federal Reserve will probably start raising rates late in the first quarter of next year, Federal Reserve Bank of St. Louis President James Bullard reiterated in a televised interview.

The Federal Reserve should increase interest rates "sooner" so hikes can be gradual, rather than wait and need to raise rates quickly, Federal Reserve Bank of Philadelphia President Charles Plosser said Thursday in televised interview.

The region's manufacturing sector expanded at a faster pace in August, as the general business conditions index climbed to 28.0 from 23.9 in July, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The composite index of Leading Economic Indicators was up 0.9% in July following a revised 0.6% increase in June, first reported as a 0.3% climb, the Conference Board reported Thursday.