Overview: The economy added no new payroll jobs in August as the unemployment rate held steady at 9.1%.  Personal income increased 0.3% in July as spending rose 0.8%.  Productivity decreased at an annual pace of 0.7% in the 2^nd quarter of 2011.  The ISM index edged down 0.3 points to 50.6 in August.  Consumer confidence dropped 14.7 points to 44.5 in August.  The Case-Shiller home index was down 4.6% in June.  Pending home sales declined 1.3% in June.  Constructing spending was down 1.3% in July.  Auto sales fell 0.8% to an annual pace of 12.12 million units in August.  Factory orders were up 2.4% in July.  Initial jobless claims fell 12,000 to a level of 409,000 for the week ended 8/27.

• The economy added no payroll jobs in August as the unemployment rate held steady at 9.1%.  A gain of about 70,000 jobs had been expected.  Private employment rose by 17,000 as government employment fell by 17,000. 
• Personal income increased 0.3% in July as personal spending rose 0.8%. 
• Productivity declined at an annual rate of 0.7% in the 2^nd quarter of 2011.  This marks a downward revision from the previously reported advance estimate of a 0.3% decline.
• The ISM index edged down 0.3 point to 50.6 in August.
• The Conference Board consumer confidence index plummeted 14.7 points to 44.5 in August. This marks the lowest level for the index since April of 2009 (just two months after the stimulus was passed and while the economy was still in recession).  The expectations index dropped 23 points to 51.9 while the present situation index fell 2.4 points to 35.7.
• The Case-Shiller home price index for June was down 4.6% from a year ago. On a monthly basis, the index was virtually unchanged from May.
• Pending home sales declined 1.3% in June.
• Construction spending was down 1.3% in July.
• Auto sales fell 0.8% to an annual pace of 12.12 million units in August.
• Factory orders increased 2.4% in July.
• Initial jobless claims fell 12,000 to 409,000 for the week ended August 27^th.