Economy

MAPI: Manufacturing Sector Posts Third Straight Advance

According to the quarterly MAPI Business Outlook, widespread improvement in a number of indexes suggests optimism for the manufacturing sector in the next three to six months. read more

Reuters: Fed Officials Defend Ongoing Stimulus

Reuters reported that top Federal Reserve officials said their decision not to reduce the pace of stimulus was wise given the U.S. government shutdown. read more

Fitch: Large Regionals Well-Placed to Manage Banking Risks

Fitch Ratings said that good liquidity, improving capital and better asset quality are all contributing to stable credit profiles for the largest U.S. regional banks, despite a difficult operating and regulatory environment. read more

Bloomberg: Yellen President’s Choice for Fed Chairman

Bloomberg reported that President Obama will nominate Janet Yellen as chairman of the Federal Reserve, which would put the world’s most powerful central bank in the hands of the first female leader in its 100-year history. read more

Bloomberg: A U.S. Default Seen as Calamitous Event

Bloomberg reported that a U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none other the world has ever seen. read more

ISM: Services Sector Activity Slows in September

The ISM's Non-Manufacturing Index registered 54.4% in September, 4.2 percentage points lower than August's reading of 58.6%, indicating continued growth at a slower rate. read more

Financial Leaders Say U.S. Default Would Derail Recovery

The Wall Street Journal reported that top financial leaders met with the president and his economic team, warning that a protracted battle over the nation’s ability to fund itself would have serious economic ramifications. read more

ISM: September Manufacturing Index Highest Since April 2011

The Institute for Supply Management said economic activity in the manufacturing sector expanded in September for the fourth consecutive month, reaching its highest point since April 2011. read more

KPMG: Mid-Market Companies Predict Rise in Revenue, CAPEX

Middle-market business executives predict an improved U.S. economy next year, and the vast majority say their companies are adding employees and enjoying stronger revenue, according to KPMG's 2013 Mid-Market Outlook Survey. read more

TD Economics: Higher Interest Rates Won't Stymie Recovery

The recovery in the economy will continue to show improvement over the next year, despite the recent rise in interest rates, according to a new report by TD Economics. read more

Fed Maintains Stimulus; Awaits Evidence of Sustained Recovery

The Fed said although it sees improvement in economic activity and labor market conditions, it will await more evidence that this progress is sustainable before adjusting the pace of its bond purchases. read more

PayNet: Fed Tapering Positive for Small Business Economy

According to a recent PayNet study, rising interest rates mean more investment by small businesses, not less. The rise in interest rates has a minor impact on the financial risk of small businesses, so failure rates will rise only slightly, PayNet said. read more

Industrial Production Above Year-Earlier Level

The Federal Reserve said industrial production advanced in August after having been unchanged in July. The Fed said at 99.4% of its 2007 average, total industrial production in August was 2.7% above its year-earlier level. read more

Fitch: Five Years Post-Crisis, States Stable, Locals Lag

In the five years after the Great Recession, most states and municipalities have seen pronounced drops in revenue followed by a slow growth trend that, in conjunction with budget austerity, has improved financial stability, according to Fitch Ratings. read more

NFIB: Small Business Optimism Remains Flat in August

Small business optimism remained flat in August, according to the National Federation of Independent Business. While the NFIB's index showed no change over July, a look at individual indicators reveals incongruent details. read more

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