Daily Roundup of Key US Economic Data for Sept. 3

02:51 PM EDT, 09/03/2026 (MT Newswires) -- The ISM's services index rose to 55.4 in August from 54.1 in July, indicating more widespread expansion, with gains in the readings for production, new orders and employment. The S&P Global nonmanufacturing index was revised lower in August to 56.5 from the flash 56.8 estimate but was still above the 54.6 reading in July. Nonfarm productivity growth was unrevised at 1.4% in Q2 from the preliminary estimate and was faster than a 0.8% gain in the previous quarter. Growth in both output and hours worked was unrevised. Unit labor costs were up 1.2% in Q2, revised down from a 1.3% gain in preliminary estimate due to a downward adjustment in hourly compensation. Unit labor costs rose by 1.3% in Q1. Challenger, Gray & Christmas reported 52,881 layoff intentions in August, up from 33,429 in July but below a level of 85,979 in August 2025. The consumer products sector led layoff intentions in the month. The international trade deficit widened to $88.6 billion in July from $71.2 billion in June as imports increased and exports declined. Initial jobless claims increased by 2,000 to 206,000 in the week ended Aug. 29, lifting the four-week moving average by 1,500 to 207,250, a fourth straight increase. Insured claims rose by 8,000 to 1.779 million in the week ended Aug. 22. Natural gas stocks rose by 30 billion cubic feet to 3.214 trillion cubic feet in the week ended Aug. 28, down 1.5% from a year earlier but 5.2% higher than the seasonal average for the current week over the previous five years. The Q3 GDP nowcast estimate from the Atlanta Fed is for a 4.7% gain, down from the previous estimate of a 4.8% gain.