Top-of-mind economic news as we start the week:
— The U.S. economy added 315,000 jobs in August, indicating hiring remains strong; unemployment rate rose as more workers rejoined the labor force.
— U.S. manufacturing activity expanded in August for the 27th month in a row; however, this is slowest pace since June 2020.
— U.S. consumer confidence improved in August after three monthly declines, with income and jobs the areas of biggest rebound.
— Russia shut its Nord Stream 1 pipeline supplying natural gas to Europe indefinitely; measure taken after G7 countries agreed to put price cap on Russian oil.
— Florida has banned impact investing by its $228 billion state pension plans; move similar to the Trump-era ban on impact investing by private sector retirement plans with government oversight (ERISA).
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