by Calculated Risk on 10/15/2010 10:03:00 AM

So much data ...

COLA: It is now official - CPI-W averaged 214.126 in Q3 2010, below the previous Q3 peak of 215.495 in 2008 - so there will be no increase in Social Security benefits or the maximum contribution base for 2011. For an explanation, see my post last month: No increase to Social Security Benefits for 2011 (unofficial)

Consumer Sentiment

From MarketWatch: Consumer sentiment edges lower in October

The preliminary Reuters-University of Michigan consumer sentiment index edged lower in October, falling to 67.9 ... from 68.2 last month.

Click on graph for larger image in new window.

Consumer sentiment is a coincident indicator - and this suggests a sluggish economy.

This was a big story in July when consumer sentiment collapsed to the lowest level since late 2009. It has moved sideways since then ...

NY Fed Manufacturing index increases in October

From the NY Fed: Empire State Manufacturing Survey

The Empire State Manufacturing Survey indicates that conditions improved in October for New York State manufacturers. The general business conditions index rose 12 points, to 15.7. The new orders and shipments indexes were also positive and well above their September levels.
...
The index for number of employees climbed for a third consecutive month, although the average workweek index dipped slightly.

Here is a graph from the NY Fed.

These regional surveys had been showing a slowdown in manufacturing and are being closely watched right now. This was above expectations.