U.S. Producer Prices Dip More Than Expected In May, Annual Growth Extends Slowdown

RTTNews | Pred 804 dňami

(RTTNews) - Producer prices in the U.S. decreased by more than expected in the month of May, according to a report released by the Labor Department on Wednesday.

The Labor Department said its producer price index for final demand fell by 0.3 percent in May after inching up by 0.2 percent in April. Economists had expected producer prices to edge down by 0.1 percent.

The report also showed the annual rate of producer price growth slowed to 1.1 percent in May from 2.3 percent in April. The rate of growth was expected to decelerate to 1.5 percent.

The bigger than expected monthly decline in producer prices was partly due to a steep drop in energy prices, which plunged by 6.8 percent in May after climbing by 0.8 percent in April.

The report showed food prices also tumbled by 1.3 percent in May after falling by 0.4 percent in the previous month.

Meanwhile, the Labor Department said prices for final demand services crept up by 0.2 percent in May after rising by 0.3 percent in April.

The uptick in services prices came as prices for trade services jumped by 1.0 percent, offsetting a 1.4 percent slump in prices for transportation and warehousing services.

Excluding prices for food, energy and trade services, core producer prices were unchanged in May after inching up by 0.1 percent in April.

The annual rate of growth by core producer prices slowed to 2.8 percent in May from 3.3 percent in April.

"With yesterday's CPI report firming expectations for a June rate pause, the May PPI today is more important as a signal for future consumer goods disinflation than as a factor driving the FOMC decision this afternoon," said Will Compernolle, Macro Strategist at FHN Financial.

He added, "Core services prices (especially the 'supercore' that excludes shelter prices) remain the Fed's underlying inflation worry and are less connected to PPI movements than consumer core goods prices."

On Tuesday, the Labor Department's released a separate report showing consumer prices edged slightly higher in the month of May.

The report said the consumer price index inched up by 0.1 percent in May after climbing by 0.4 percent in April. Economists had expected prices to tick up by 0.2 percent.

Excluding food and energy prices, core consumer prices rose by 0.4 percent in May, matching the increase seen in each of the two previous months as well as economist estimates.

The Labor Department also said the annual rate of consumer price growth slowed to 4.0 percent in May from 4.9 percent in April. Economists had expected the pace of growth to slow to 4.1.

The year-over-year growth in May marked the smallest annual increase since the period ending March 2021.

The annual rate of core consumer price growth also slowed to 5.3 percent in May from 5.5 percent in April, in line with expectations.

Značky: USD

U.S. Consumer Confidence Index Edges Lower In August

A report released by the Conference Board on Tuesday showing a modest deterioration by consumer confidence in the U.S. in the month of August. The Conference Board said its consumer confidence index dipped to 97.4 in August from an upwardly revised 98.7 in July.

RTTNews | Pred 2 h 54 min

U.S. Durable Goods Orders Slump 2.8% In July, Much Less Than Expected

Reflecting a continued plunge by orders for transportation equipment, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of July. The Commerce Department said durable goods orders slumped by 2.8 percent in July after plummeting by a revised 9.4 percent in June.

RTTNews | Pred 3 h 5 min

U.S. Durable Goods Orders Tumble Less Than Expected In July

RTTNews | Pred 4 h 29 min

U.S. New Home Sales Pull Back From Upwardly Revised Level In July

New home sales in the U.S. decreased from an upwardly revised level in the month of July, according to a report released by the Commerce Department on Monday. The Commerce Department said new home sales fell by 0.6 percent to an annual rate of 652,000 in July after surging by 4.1 percent to an upwardly revised rate of 656,000 in June.

RTTNews | Pred 1 dňom

Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Federal Reserve Chair Jerome Powell delivered a highly-anticipated speech before the Jackson Hole Economic Symposium on Friday, although he touched only briefly on the outlook for monetary policy. "With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said.

RTTNews | Pred 4 dňami

U.S. Leading Economic Index Edges Down In Line With Estimates In July

A reading on leading U.S. economic indicators edged slightly lower in the month of July, according to a report released by the Conference Board on Thursday. The Conference Board said leading economic index slipped by 0.1 percent in July after falling by 0.3 percent in June. The modest decrease matched economist estimates.

RTTNews | Pred 5 dňami

U.S. Existing Home Sales Unexpectedly Rebound In July

The National Association of Realtors released a report on Thursday showing an unexpected rebound by existing home sales in the U.S. in the month of July. The report said existing home sales jumped by 2.0 percent to an annual rate of 4.01 million in July after tumbling by 2.7 percent to an annual rate of 3.93 million in June.

RTTNews | Pred 5 dňami

Philly Fed Index Unexpectedly Returns To Negative Territory In August

Manufacturing activity in the Philadelphia area has weakened in the month of August, the Federal Reserve Bank of Philadelphia revealed in a report released on Thursday. The Philly Fed said its diffusion index for current general activity tumbled to a negative 0.3 in August from a positive 15.9 in July, with a negative reading indicating contraction.

RTTNews | Pred 5 dňami

EURUSD	1.16483	GBPUSD	1.34761	AUDUSD	0.64959
USDJPY	147.331	USDCAD	1.38315	USDCHF	0.80323