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Weak readings could alarm policy makers globally and lead to fresh action to bolster growth.
Wall Street sank Thursday after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers.
She said that monetary policy isn't on "a pre-set course," and added that the Fed had "taken note of the fact there have been several weak readings, particularly on core inflation".
City analysts said the two weak readings – the first official indications of how the economy performed in July – suggested GDP growth could be set to slow in the third quarter of the year, from the healthy 0.7% pace recorded from April to June.
The upbeat reports on sales of new homes and orders for durable goods could still disappoint investors who had been hoping weak readings would persuade the Fed to cut its benchmark federal funds rate at, or even before, the Fed's next meeting, Sept. 18.
Manufacturing employment fell back for the second successive month, a development that had been presaged by weak readings for new orders in recent months.
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London was the only part of the country to report a positive reading for prices, while surveyors in Northern Ireland, the West Midlands and Yorkshire and Humberside reported the weakest readings.
Those factors helped offset the drag from weaker readings of residential investment and state and local government spending.
The day's late reversal appeared to ease some of Wall Street's concerns about the prospects for the financial sector and the overall economy after several weak economic readings.
However, having once been told she was psychologically weak, the Reading forward now has a steely determination and an unbreakable spirit to achieve just one thing: make her late mother proud.
"China's PMI has been telling us for some time to expect weaker ISM readings, and the run of severe weather likely has hurt too".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com