USA • New-home starts rose 3.9% to an annual pace of 1.615 million units following a revised decline of 6.2% the previous month. Reflecting stronger demand for apartments, multifamily starts accounted for the overall gain in August. They rose 20.6% or 92K to an annual rate of 539K units. This more than offset the 2.8% [...]
USA • The Consumer Price Index advanced 0.3% MoM in August after climbing 0.5% the prior month. This result was slightly weaker than the +0.4% print expected by consensus. The energy component rose 2.0% thanks in part to a 2.8% gain in the gasoline segment. The cost of food, for its part, increased 0.4%. The [...]
USA • The Producer Price Index (PPI) for final demand jumped 0.7% MoM, one tick more than expected by consensus. This gain came in the wake of seven solid prints in January (+1.2%), February (+0.7%), March (+0.8%), April (+1.0%), May (+0.5%), June (+1.0%) and July (+1.0%). Goods prices rose 1.0% on a healthy gain for [...]
USA • Non-farm payrolls rose 235K in August, a lot less than the median economists forecast calling for a +733K print. Partially compensating for this disappointing result, the prior month’s results were upgraded by a sizeable 134K. The private sector added 243K jobs. Employment in the goods sector sprang 40K thanks to gains in manufacturing [...]
USA • Durable goods orders fell 0.1% to US$257.2 billion after swelling 0.8% and 3.2% in June and May, respectively. Orders for vehicles and parts rose US$2.96 billion or 5.8% to US$53.8 billion, a gain that was more than offset by a 48.9% decline (US$7.04 billion) in non-defence aircraft and parts orders to US$7.4 billion [...]
