In US economic data, auto sales were estimated at a 17.4 million annual rate in August, well above forecasts for 16.6m annualised sales. Factory orders rose by 10.5 per cent in July, just below forecasts for an 11 per cent gain. Chain store sales in the latest week were up 4.9 per cent on a year ago, above the 4 per cent gain recorded last week. The ISM New York index rose from 644.4 to 648.0 in August.
The Beige Book summary of conditions across US Federal Reserve districts indicated that the US economy grew at a "moderate" pace in recent weeks.