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U.S. Import Prices Dip Slightly More Than Expected In August
(RTTNews) - A report released by the Labor Department on Friday showed import prices in the U.S. decreased by slightly more than expected in the month of August.
The Labor Department said import prices fell by 0.3 percent in August after inching up by 0.1 percent n July. Economists had expected import prices to dip by 0.2 percent.
The report also showed a notable decline by export prices, which slid by 0.7 percent in August after climbing by a downwardly revised 0.5 percent in July.
Economists had expected export prices to edge down by 0.1 percent compared to the 0.7 percent increase originally reported for the previous month.
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U.S. Consumer Sentiment Drops To Near-Record Low In November
Consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of November, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index slid to 50.3 in November after falling to 53.6 in October. Economists had expected the index to edge down to 53.2.
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The Institute for Supply Management released a report on Wednesday showing U.S. service sector activity returned to expansion in the month of October. The ISM said its services PMI climbed to 52.4 in October after falling to 50.0 in September, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.8.
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U.S. Private Sector Adds 42,000 Jobs In October, More Than Expected
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U.S. Manufacturing Index Unexpectedly Edges Lower In October
Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of October, according to a report released by the Institute for Supply Management on Monday. The ISM said its manufacturing PMI slipped to 48.7 in October after edging up to 49.1 in September, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.5.
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Chicago Business Barometer Climbs More Than Expected But Still Indicates Contraction
A reading on Chicago-area business activity increased by more than expected in the month of October but continued to indicate contraction, according to a report released by MNI Indicators on Friday. The report said the Chicago business barometer climbed to 43.8 in October after slipping to 40.6 in September. Economists had expected the index to show a more modest increase to 42.3.
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Fed Announces Widely Expected Decision To Cut Rates By Another Quarter Point
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U.S. Pending Home Sales Unexpectedly Unchanged In September
After reporting a sharp increase by pending home sales in the U.S. in the previous month, the National Association of Realtors released a report on Wednesday showing pending home sales unexpectedly came in flat in the month of September. NAR said its pending homes sales index was unchanged at 74.8 in September after surging by 4.2 percent in August.
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