The Optimism Index fell 1.6 points to 103.1, historically a very solid reading and still with in the top 15 percent of all readings. In terms of real economic activity, August was a very good month. Job creation accelerated, quarter on quarter sales gains remained strong, and favorable profit trends and actual capital spending improved. The decline in the Index was driven by weakened expectations for the future as significantly fewer owners expected better business conditions and better real sales volumes in the coming months. This accounted for 80 percent of the Index decline. Apparently all the recession talk took ... (full story)