U.S. Import Prices Rise Modestly In January, But Export Prices Surge

RTTNews | 154 일 전
U.S. Import Prices Rise Modestly In January, But Export Prices Surge

(RTTNews) - While the Labor Department released a report on Friday showing U.S. import prices increased by slightly less than expected in the month of January, the report also showed U.S. export prices surged by much more than anticipated.

The Labor Department said import prices rose by 0.3 percent in January after inching up by an upwardly revised 0.2 percent in December.

Economists had expected import prices to climb by 0.4 percent compared to the 0.1 percent uptick originally reported for the previous month.

The report said the annual rate of growth by import prices slowed to 1.9 percent in January from 2.2 percent in December.

The modest monthly increase by import prices largely reflected a continued surge by prices for fuel imports, which spiked by 3.2 percent in January after jumping by 1.7 percent in December.

Prices for non-fuel imports crept up by 0.1 percent for the third straight month, as higher prices for non-fuel industrial supplies and materials, capital goods, and foods, feeds, and beverages more than offset lower prices for automotive vehicles and consumer goods.

Meanwhile, the Labor Department said export prices shot up by 1.3 percent in January after climbing by an upwardly revised 0.5 percent in December.

Economists had expected export prices to rise by 0.3 percent, matching the increase originally reported for the previous month.

The report also showed a significant acceleration in the annual rate of growth by export prices, which surged to 2.7 percent in January from 1.8 percent in December.

The sharp monthly increase by export prices came as prices for non-agricultural exports jumped by 1.5 percent in January after rising by 0.4 percent in December.

Prices for non-agricultural exports saw the biggest increase since August 2023, as higher prices for non-agricultural industrial supplies and materials, capital goods, consumer goods and nonagricultural foods more than offset lower prices for automotive vehicles.

At the same time, prices for agricultural exports edged down by 0.2 percent in January after climbing by 0.7 percent in December, with lower prices for nuts, meat, fruit and vegetables more than offsetting higher corn prices.

read more
U.S. Consumer Sentiment Reaches Five-Month High In July

U.S. Consumer Sentiment Reaches Five-Month High In July

After reporting a substantial rebound by U.S. consumer sentiment in the previous month, the University of Michigan released a report on Friday showing a more modest improvement by consumer sentiment in the month of July. The University of Michigan said its consumer sentiment index climbed to 61.8 in July after surging to 60.7 in June. Economists had expected the index to rise to 61.5.
RTTNews | 17 시간 14 분 전
U.S. Housing Starts Rebound More Than Expected In June

U.S. Housing Starts Rebound More Than Expected In June

New residential construction in the U.S. rebounded by more than expected in the month of June, according to a report released by the Commerce Department on Friday. The Commerce Department said housing starts surged by 4.6 percent to an annual rate of 1.321 million in June after plunging by 9.7 percent to a revised rate of 1.263 million in May.
RTTNews | 18 시간 13 분 전
U.S. Business Inventories Remain Unchanged For Second Straight Month

U.S. Business Inventories Remain Unchanged For Second Straight Month

Business inventories in the U.S. remained unchanged for the second consecutive month in May, according to a report released by the Commerce Department on Thursday. The Commerce Department said business inventories were virtually unchanged in May after also coming in flat in April. The unchanged reading matched economist estimates.
RTTNews | 1 일 전
U.S. Homebuilder Confidence Modestly Improves In July

U.S. Homebuilder Confidence Modestly Improves In July

A report released by the National Association of Home Builders on Thursday showed a modest improvement in homebuilder confidence in the U.S. in the month of July. The report said the NAHB/ Wells Fargo Housing Market Index inched up to 33 in July after slipping to 32 in June. The uptick matched economist estimates.
RTTNews | 1 일 전
Philly Fed Index Surges To Five-Month High In July

Philly Fed Index Surges To Five-Month High In July

The Federal Reserve Bank of Philadelphia released a report on Thursday showing manufacturing activity in the region unexpectedly expanded overall in the month of July. The Philly Fed said its diffusion index for current general activity surged to a positive 15.9 in July from a negative 4.0 in June, with a positive reading indicating growth.
RTTNews | 1 일 전
U.S. Import Prices Inch Up 0.1% In June, Less Than Expected

U.S. Import Prices Inch Up 0.1% In June, Less Than Expected

Import prices in the U.S. inched up by less than expected in the month of June, the Labor Department revealed in a report released on Thursday. The Labor Department said import prices crept up by 0.1 percent in June after falling by a revised 0.4 percent in May.
RTTNews | 1 일 전
U.S. Retail Sales Rebound Much More Than Expected In June

U.S. Retail Sales Rebound Much More Than Expected In June

Retail sales in the U.S. rebounded by much more than expected in the month of June, according to a report released by the Commerce Department on Thursday. The Commerce Department said retail sales climbed by 0.6 percent in June after slumping by 0.9 percent in May. Economists had expected retail sales to inch up by 0.1 percent.
RTTNews | 1 일 전