International markets led the way again in September while a 60% global stock 40% US aggregate bond portfolio is up 8.1% year to date through September.
- Employment: August saw 156,000 new jobs added -- a little below the monthly average of 176,000 per month for 2017. Over the 12 months ended in August, average hourly earnings have risen 2.5%.
- Interest rates: The Federal Open Market Committee met in September and left the target federal funds rate range at 1.00%-1.25%. The Committee again indicated that it will remain on schedule to raise interest rates at least once more this year.
- GDP: The gross domestic product expanded over the second quarter at an annual rate of 3.1%. The first-quarter GDP grew at an annualized rate of 1.2%.
- Inflation: Inflation continues to be weak. The personal consumption expenditures (PCE) price index (a measure of what consumers pay for goods and services) ticked up only 0.2% in August following a 0.1% bump in July.
- Consumer sentiment: The Consumer Confidence Index® for September declined to 119.8 from July's revised 120.4. Not surprisingly, consumer confidence in the economy decreased considerably in Texas and Florida following the devastation caused by hurricanes.
To Your Prosperity,