Economy Continues Showing Signs of Growth: Report

Most sectors of the global and international economy continue to show positive signs, according to a monthly report released this morning by the Federal Reserve Bank of New York.

Here in the United States, consumer spending continued to grow, inflation remained at lower-than-expected levels, while the unemployment rate held steady. As well, housing starts are at their highest level since November 2007, according to the report.

Non-farm payroll employment levels grew by 142,000 in September, which was less than the average 167,000 per-month growth during the rest of the third quarter.

For households, average earnings are up 2% from a year ago, but were down slightly from August. The average household earned $865.61 per week in September, down from $868.46 in August.