Economic trends.

• Position: Table

Many people are paying more attention to economic trends than they did before the credit meltdown. Government Finance Review presents a bimonthly summary of relevant statistics to help GFOA members keep track of the overall economic picture.

Inflation Indicator Result Source Trend/ Consumer No change Bureau of Significance Over Price from May Labor Statistics the last 12 Index to June months, index increased 1.6 percent before seasonal adjustment Confidence Indicator Result Source Trend/Significance Consumer At 65.9 in Conference Board A reading above Confidence July up 90 would signal from 62 in a June stabilized consumer Conference Lynn Franco, Director of Economic Indicators Board at The Conference Board, said: "Despite this Commentary month's improvement in confidence, the overall Index remains at historically low levels. Consumers' attitude regarding current conditions was little changed in July, but their short term expectations, which had declined last month, bounced back. However, while consumers expressed greater optimism about short-term business and employment prospects, they have grown more pessimistic about their earnings. Given the current economic environment--in particular the weak labor market--consumer confidence is not likely to gain any significant momentum in the coming months." Economic Growth Indicator Result Source Trend/Significance ISM Down to Institute for Supply Below 50 is Manufacturing 49.7 Management...