Consumers remains upbeat as manufacturing weakens

U.S. industrial production was negative for the second month in a row in September, down 0.2 percent. This decline indicates that the effects of a strong dollar and slowing global growth are being felt throughout the manufacturing industry. Nevertheless this poor industrial data is balanced by a relatively strong U.S. economy; the labor market remains near full employment and consumers continue to be upbeat.

"The latest JOLTS report of job openings was lower than anticipated and down from July's record high but consumer sentiment ticked up indicating that consumers remain optimistic about the economy", says Voya Global.