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U.S. manufacturing growth steadied in August at the slowest pace in over two years, while a measure of materials costs declined for a fifth-straight month in a welcome sign inflationary pressures are abating.

U.S. manufacturing activity continued to cool in July as more factories dialed back production in the face of shrinking orders and rising inventories.

Production at U.S. factories rose modestly in January, suggesting manufacturers gradually are working through pandemic-related shortages of materials and labor that hobbled output in the prior month.

Applications for U.S. state unemployment benefits declined last week to the lowest level since 1969, illustrating difficulties adjusting the raw data for seasonal effects.

Applications for U.S. state unemployment benefits rose by less than forecast last week after a plunge tied to seasonal adjustments in the prior period.

U.S. consumer sentiment unexpectedly collapsed in early November as Americans grew increasingly concerned about rising prices and the inflationary impact on their finances.

More cargo from Mexico to the United States is being held up at the border, accompanied by increasing evidence that such delays are dimming prospects for American companies.

American consumers last year were more upbeat on average than at any time since 2001, reflecting more favorable views of the economy, personal finances and the buying climate, according to the Bloomberg Consumer Comfort Index released Jan. 4.

Holiday sales at Macy's Inc., Sears Holdings Corp. and J.C. Penney Co. were anemic, and U.S. government data just confirmed it.