US: RETAIL SALES EXPANDS SURPRISINGLY AT A STRONGER PACE OF 0.6% VS. EXPECTATIONS OF 0.2%
- In August, consumer spending grew at a healthy pace of 0.7%.
- Initial Jobless Claims remained higher than prior week figures after declining straight for five weeks.
The US Bureau of Labor Statistics reported on Thursday that the Producer Price Index (PPI) for final demand in the US rose 0.7% on a monthly basis from expectations and July’s print of 0.4%. Annualized headline PPI accelerated to 1.6% vs. estimates of 1.2% and the former reading of 0.8%.
The annual Core PPI decelerated to 2.2%, as expected by market participants vs. July’s figure of 2.4%.
Retail Sales in the US outperformed expectations of 0.2% and July’s reading of 0.5%, landed at 0.6% on a monthly basis in July, the data published by US Census Bureau.
Retail Sales Ex-Autos rose 0.6% in the same period, compared to analysts' estimate of 0.4%, while Retail Sales Control Group increased 0.1%,.
The US Department of Labor showed that individuals claiming jobless benefits for the first time rose by 220K while investors anticipated higher jobless claims at 225K. In the previous week, jobless benefits were recorded at 216K. Jobless claims remained higher than prior week figures after declining straight for five weeks.
Further details of the publication revealed “the 4-week moving average was 236,750, an increase of 2,250 from the previous week's revised average.”
Continuing claims decreased by 9K in the week ending August 12 to 1.702 million, below market expectations of 1.708 million. “The 4-week moving average was 1,697,250, an increase of 5,750 from the previous week's revised average”, the DOL further noted in its publication
- In August, consumer spending grew at a healthy pace of 0.7%.
- Initial Jobless Claims remained higher than prior week figures after declining straight for five weeks.
The US Bureau of Labor Statistics reported on Thursday that the Producer Price Index (PPI) for final demand in the US rose 0.7% on a monthly basis from expectations and July’s print of 0.4%. Annualized headline PPI accelerated to 1.6% vs. estimates of 1.2% and the former reading of 0.8%.
The annual Core PPI decelerated to 2.2%, as expected by market participants vs. July’s figure of 2.4%.
Retail Sales in the US outperformed expectations of 0.2% and July’s reading of 0.5%, landed at 0.6% on a monthly basis in July, the data published by US Census Bureau.
Retail Sales Ex-Autos rose 0.6% in the same period, compared to analysts' estimate of 0.4%, while Retail Sales Control Group increased 0.1%,.
The US Department of Labor showed that individuals claiming jobless benefits for the first time rose by 220K while investors anticipated higher jobless claims at 225K. In the previous week, jobless benefits were recorded at 216K. Jobless claims remained higher than prior week figures after declining straight for five weeks.
Further details of the publication revealed “the 4-week moving average was 236,750, an increase of 2,250 from the previous week's revised average.”
Continuing claims decreased by 9K in the week ending August 12 to 1.702 million, below market expectations of 1.708 million. “The 4-week moving average was 1,697,250, an increase of 5,750 from the previous week's revised average”, the DOL further noted in its publication
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.