The U.S. unemployment rate fell in September to 7.2%, but job creation weakened with just 148.000 new jobs. On a positive note, employment increased in construction, wholesale trade, and transportation and warehousing sectors. Additionally, the US manufacturing sector expanded at its fastest pace in almost 2-1/2 years. The ISM Manufacturing index – a solid proxy for gauging the health of U.S. manufacturing – rose to 56.2 in September, its highest reading since April 2011. Meanwhile, retail sales outside of auto dealers climbed 0.4% in September, the third biggest increase of the year. Although the full economic impact of the government shutdown is still being evaluated, it’s expected that the shutdown will restrict economic growth to a sluggish pace for the remainder of the year.
Source :Cushman & Wakefield