USA • Markit’s flash composite PMI came in at 56.0 in February, up sharply from 51.1 the month before. Polled managers reported a “notable recovery in demand from COVID-related disruptions at the start of the year” and linked growth to “substantial gains in new business, employees returning from sick leave, increased travelling and greater availability [...]
USA • Retail sales expanded 3.8% in January, quite a bit more than the +2.0% print expected by consensus. The good news was partially offset by a downward revision to the prior month’s result from -1.9% to -2.5%. Sales of motor vehicles and parts jumped 5.7% MoM but remained 6.3% below last April’s all-time high. [...]
USA • The Consumer Price Index rose 0.6% MoM in January after climbing 0.5% the prior month. The January result was two ticks stronger than expected by consensus. The energy component rose 0.9% despite the gasoline segment retracing 0.8% in the month. The cost of food sprang 0.9%. The core CPI, which excludes food and [...]
USA • Nonfarm payrolls rose 467K in January, more than the +125K print expected by consensus. Adding to the good news, the prior months’ results were upgraded a massive 709K. Employment in the goods segment crept up 4K with gains in manufacturing (+13K) being partially offset by declines for both construction (-5K) and mining/logging (-4K). [...]
