U.S. Economic News

September 8, 2020

U.S. Economic Indicators

The NFIB Small Business Optimism Index rose 1.4 points to 100.2 in August as seven components improved, two weakened, and one was unchanged. Current job openings and plans to increase employment improved, while expectations for future sales and overall economic conditions declined. NFIB Report

U.S. News

The Wall Street Journal reports that Q2 was the best quarter for the mortgage market since at least 2000 as lenders issued $1.1 trillion in home loans. The housing market has proven to be one of the few bright spots in the U.S. economy, though analysts note that most of the increase in loan activity has been from refinancings, which are unlikely to stimulate much new activity in the broader economy. WSJ

According to the Financial Times, banks are growing increasingly concerned about their ability to recoup loans secured against commercial property as hotels and office buildings remain empty months into the public health crisis. Criticized loans rose 62% in Q2 as disruption in the property sector begins to impact measures of financial strength for major U.S. banks. FT