Last week began with a focus on the housing market, where housing starts for July exceeded expectations, reaching 1.428 million new construction starts.

Economic indicators released this week reflect a complex and evolving macroeconomic landscape, marked by persistent inflationary pressures and a labor market that remains resilient but shows early signs of moderation.

Overall, the data portrays an economy that is still growing but at a slower pace. The services sector is barely expanding, the labor market is stable but showing signs of cooling, and inflation remains moderate yet above the Federal Reserve’s long-term target.