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The benchmark conforming 30-year fixed mortgage rate set a new record for the third consecutive week, dropping to 4.35 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.38 discount and origination points.

Consumer confidence fell in August for the third straight month, as the Discover U.S. Spending MonitorSM dropped to its lowest level since March 2009. Since January, the Monitor has been in a freefall, dropping nearly 13 points over the last eight months. The daily poll that tracks economic confidence and spending intentions of around 8,200 consumers a month now stands at 80.5, 2.2 points lower than July.

Generation Y investors are conservative investors and invest more like their Baby Boomer parents, despite their long-term time horizon, according to the MFS Investing Sentiment Survey. The survey offers an in-depth look into the investing habits and sentiments of Generation Y, the next large wave of investors that encompasses approximately 77 million Americans between the ages of 18 and 30 with nearly $1 trillion in spending power.

The Conference Board Employment Trends Index™ (ETI) decreased again in August to 100.8, down from July’s revised figure of 101. The August figure is up 4.1 percent from a year ago.

Nearly half of small businesses (40.7%) say they will hire in the next six months compared to 38.1% who say they do not plan to hire and 21.2% who don’t know. In light of increased concern about the economy and job growth, initial findings are released from the latest survey currently underway of privately-held businesses by the Pepperdine Private Capital Markets Project, conducted with the cooperation of Dun & Bradstreet Credibility Corp. The poll of 7,502 small businesses (revenues of less than $5 million dollars) in the U.S. also found that economic uncertainty (38.2%), followed by access to capital (26.0%), and government regulations and taxes (24.2%) are the top three issues small businesses face today.

Economic activity in the non-manufacturing sector grew in August for the 21st consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.

GDP increased by 0.2% in both the euro area (EA17) and the EU27 during the second quarter of 2011, compared with the previous quarter, according to second estimates released by Eurostat, the statistical office of the European Union. In the first quarter of 2011, growth rates were +0.8% in the euro area and +0.7% in the EU27.

Consumer prices in the OECD area rose by 3.1% in the year to July 2011, compared with 3.0% in the year to June. The broad stability in the headline rate partly reflects offsetting movements in energy and food prices. Energy prices rose 13.5% in the year to July, slightly down from the 13.6% recorded in June, while food prices rose by 4.5%, up from 4.1% in the year to June. Excluding food and energy, the annual inflation rate rose by 1.7% in July, compared with 1.6% in June.

According to a survey released by Hay Group, a global management consultancy, 68 percent of retailers expect holiday sales to increase this year. However, hiring plans remain conservative, with 67 percent of retailers hiring at the same level as last year and 25 percent hiring fewer seasonal workers.

Financial reality is especially harsh for 20-somethings nationwide as a mere 23 percent rate themselves as totally independent, according to a first-ever survey by The PNC Financial Services Group, Inc.