New Zealand Dollar falls against USD as factory gate inflation beats expectations
The BLS data shows that the Producer Price Index ex Food and Energy (Core PPI) rose by 2.0% in February, not the 1.9% forecast, and the same as the previous 2.0% in January.
Monthly Core PPI showed a 0.3% increase in prices, which beat the 0.2% rise expected but was still lower than the 0.5% from the previous month.
The headline Producer Price Index (PPI) rose 1.6% in February, which was well above the 1.1% YoY gain expected and the 1% in January. MoM PPI rose 0.6% versus the 0.3% forecast – the same as the 0.3% previous.
US Retail Sales registered a 0.6% rise MoM rather than the 0.8% rise forecast, but still above the 0.8% decline in January.
US Initial Jobless Claims for the week of March 8 came out at 209K when a 218K result had been forecast, yet this was lower than the 210K previously.
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