The ISM index increased 1.9 points to a higher-than-expected 59.0 for August. Construction spending increased 1.8% in July. Vehicle sales jumped 6.4% to an annual rate of 17.53 million vehicles. Factory orders jumped 10.5% in July. The U.S. trade deficit shrank slightly to $40.5 billion in July. In the second estimate of the 2nd quarter of 2014, nonfarm productivity growth was revised slightly down to 2.3% annualized. The ISM services index rose 0.9 point to 59.6 for August. The economy added 142,000 nonfarm payroll jobs in August while the unemployment rate ticked down to 6.1%. Initial jobless claims rose 4,000 to 302,000 for the week ended 8/30.

• The ISM index increased 1.9 points to a higher-than-expected 59.0 for August.

• Construction spending increased 1.8% in July. From a year ago, spending is up 8.2%.

• Vehicle sales jumped 6.4% to an annual rate of 17.53 million vehicles. From a year ago, vehicle sales are up 10.0%.

• Factory orders jumped 10.5% in July. Excluding transportation, which includes aircraft and vehicles, factory orders fell 0.8% in the month.

• The U.S. trade deficit shrank slightly to $40.5 billion in July. Exports rose 0.9%, and imports gained 0.7%.

• In a second estimate of the 2nd quarter of 2014, nonfarm productivity growth was revised slightly down to 2.3% annualized. Unit labor costs were also revised down to a -0.1%. Year-on-year, productivity was up 1.1% in the 2nd quarter, and unit labor costs were up 1.7%.

• The ISM services index rose 0.9 point to 59.6 for August.

• The economy added 142,000 nonfarm payroll jobs in August while the unemployment rate ticked down to 6.1%. Private payrolls increased 134,000. Net revisions for June and July were down 28,000. Turning to household data, the number of unemployed changed little, down 80,000 to 9.6 million, while the number of long-term unemployed fell 192,000 to 3.0 million (31.2% of the unemployed). The number employed increased 16,000 to 146.4 million while the labor force fell by 64,000 to 156.0 million. The labor force participation rate, at 62.8%, is essentially unchanged since April. The employment-to-population ratio, at 59.0%, is unchanged for the 3rd month in a row.

• Initial jobless claims rose 4,000 to 302,000 for the week ended August 30th.