USA • Markit’s flash composite PMI came in at 56.5 in November, down from 57.6 the month before but still consistent with a solid rate of expansion in the private sector. Operating conditions continued to improve in the manufacturing sector, as evidenced by a rise from 58.4 to 59.1 in the corresponding gauge. New orders [...]
USA • Retail sales rose 1.7% in October, topping the median economist forecast calling for a +1.4% print. The previous month’s result, meanwhile, was revised up from +0.7% to +0.8%. Sales of motor vehicles and parts progressed 1.8%. Without autos, sales still sprang 1.7% on advances for non-store retailers (+4.0%), gasoline stations (+3.9%), electronics (+3.8%), [...]
USA • The Consumer Price Index rose 0.9% MoM in October after climbing 0.4% the prior month. This result was significantly stronger than the +0.6% print expected by consensus. The energy component advanced 4.8% thanks in part to a 6.1% gain in the gasoline segment. Electricity prices, for their part, rose at the quickest monthly [...]
USA • Non-farm payrolls rose 531K in October, more than the +450K print expected by consensus. Adding to the good news, the prior month’s results were upgraded by a sizeable 235K. The private sector added 604K jobs. Employment in the goods segment sprang 108K thanks to gains in manufacturing (+60K), construction (+44K) and mining/logging (+4K). [...]
