Jobless rate in U.S. drops to lowest level since November 2008. August Non-Farm Payroll report revised upwards to 193k from 169k (this important report is very good news), subject to revisions, of course. Durable goods orders rose 3.7% in September. All were positive reports.
On the negative side, Consumer confidence fell to 73.2 versus expectations of 75 – this is not surprising, given the turmoil in Washington including the Government shutdown and threats of debt default. I believe this set back in consumer confidence is temporary.
In summary, it was another good week for economic reports.