The Conference Board reported that its consumer confidence index fell to 47.7 in October from a revised 53.4 in September. Economists had expected a reading of 53.5. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.

The Standard & Poor’s/Case-Shiller 20-city housing price index rose 1% in August. It was the third consecutive monthly gain and follows a 1.2% increase in July.

Orders for durable goods — items expected to last three or more years — rose 1% in September after falling a revised 2.6% in August. Among the areas of strong growth were orders for heavy machinery, up 7.9%, the best showing since an 8.5% increase in March 2008.

The Commerce Department reported new home sales fell 3.6% in September to a seasonally adjusted annual rate of 402,000 from a downwardly revised rate of 417,000 in August. It was the first decline since March.

Initial claims for unemployment benefits rose by 1,000 to 530,000 in the week ending October 24. The figure was higher than the 525,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending October 17 fell by 148,000 to 5.8 million.

Upcoming on the economic calendar are reports on construction spending and pending home sales on November 2, factory orders on November 3 and wholesale trade on November 6.

The Commerce Department reported that total business inventory decreased 1.5% in August, following a 1.1% drop in July. It was the 12th straight monthly decline as retailers, manufacturers and wholesalers sought to cut inventory. Total business sales rose 1% in August, pulling the stock-to-sales ratio down to 1.33 months to exhaust inventories at the August sales pace.

The Labor Department reported consumer prices rose 0.2% in September. For the year, consumer prices are down 1.3%. This gives the Federal Reserve room to leave interest rates at record-low levels in a further effort to give the economy a boost.

Initial claims for unemployment benefits fell by 10,000 to 514,000 in the week ending October 10. The figure was lower than the 520,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending October 3 fell by 75,000 to 5.99 million, the fewest since the week ending March 28.

Industrial production at the nation’s factories, mines and utilities rose 0.7% in September, following an upwardly revised 1.2% increase in August. For the third quarter, industrial production increased at an annual rate of 5.2%, the largest quarterly gain since the first three months of 2005. The overall factory-operating rate rose to 70.5% of capacity in September.

The Reuters/University of Michigan consumer sentiment index for October fell to 69.4 from 73.5 in September. Economists had forecast a reading of 73.3.

Upcoming on the economic calendar are reports on the housing market index on October 19, housing starts on October 20 and existing home sales on October 23.

According to the ICSC-Goldman Sachs index, retail sales rose 0.3% in the week ending October 3. On a year-over-year basis, retailers saw sales increase by 1%, the second-best showing in a year.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending October 2 rose 16.4% to 756.3, the highest level since May. Purchase volume rose 13.2% to 306.1. Refinancing applications increased 18.2% to 3,377.1.

According to the Federal Reserve, consumer credit debt fell for the seventh straight month in August by $12 billion, an annual rate of 5.8%. Economists had forecast consumer debt would drop $10 billion. Total consumer credit debt in August was $2.46 trillion.

Initial claims for unemployment benefits fell by 33,000 to 521,000 in the week ending October 3. The figure was lower than the 540,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending September 26 fell by 72,000 to 6.04 million.

The Commerce Department said wholesalers reduced their inventories by 1.3% in August, following a revised 1.6% drop in July. It was the 12th straight monthly decline. Meanwhile, sales at the wholesale level rose 1% in August, the largest increase since June 2008.

Upcoming on the economic calendar are reports on retail sales on October 14 and consumer inflation on October 15.

The Standard & Poor’s / Case-Shiller 20-city housing price index rose 1.2% in July. It was the biggest gain since October 2005.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 6.4% to 103.8 in August, following a 3.2% increase to 97.6 in July. It was the seventh consecutive monthly increase and the highest reading since March 2007.

The Conference Board reported that its consumer confidence index fell to 53.1 in September from a revised 54.5 in August. Economists had expected an increase to 57. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.

The Commerce Department reported that consumer spending rose 1.3% in August, the largest increase since October 2001. Economists had anticipated an increase of 1.1%. The reading follows a revised 0.3% increase in July. Personal income rose 0.2% in August, the same as in July.

Initial claims for unemployment benefits rose by 17,000 to 551,000 in the week ending September 26. The figure was higher than the 535,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending September 19 fell by 70,000 to 6.09 million.

In the third quarter of 2009, the Dow Jones industrial average rose 15%, its biggest gain since the fourth quarter of 1998.

Upcoming on the economic calendar are reports on consumer credit on October 7 and wholesale trade on October 8.

Initial claims for unemployment benefits fell by 26,000 to 550,000 in the week ending September 5. The figure was lower than the 560,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending August 29 fell by 159,000 to 6.09 million.

The Reuters/University of Michigan consumer sentiment index for September increased to 70.2 from 65.7 in August. Economists had forecast a reading of 67.5.

The Commerce Department said wholesalers reduced their inventories by 1.4% in July, following a revised 2.1% drop in June. It was the 11th straight monthly decline. Meanwhile, sales at the wholesale level rose 0.5% in July, the third consecutive monthly gain.

Upcoming on the economic calendar are reports on retail sales on September 15, the housing market index on September 16 and housing starts on September 17.