​Last week, data showed that retail spending declined in August, jobless claims rose for the week ending September 22nd, the personal consumption expenditures index hit the Fed’s targets, and consumer sentiment rose.

​Data released by the Labor Department last week showed consumer prices rising dramatically, producer prices stagnating from the prior month, and job vacancies increasing to 6.7 million in the second quarter.

​Last week the Department of Labor released its June reading on the Consumer Price Index, and the Federal Reserve released its consumer credit figures for the month of May. Both measures experienced stark upward growth during their respective months and over the twelve months prior.

​Last week’s economic news continued to signal a booming U.S. economy. In summary, the NFIB’s Small Business Optimism Index rose to its second-highest all-time level of 107.8; the Consumer Price Index (CPI) for May, often a sign of inflation, rose 2.8% over the last twelve months; and Federal Reserve officials elected to raise rates a quarter of one percentage point to keep the economy from growing too quickly. The Fed’s Board of Governors also signaled for an extra rate hike for 2018. 

​Last week, several key indicators indicated cooling in the US economy. Primarily led by consumer-focused indicators, other softening indicators included small business optimism, which hinted at decreasing confidence of an improving economy. Inflation also ticked up, but the increase was largely driven by plunging wireless services prices in the year-ago period.

​The general tone of economic data released last week signals increasing confidence among both consumers and businesses.