USA The S&P Global Flash Composite PMI remained unchanged in November at 50.7 and consistent with just a modest expansion in private sector activity. New orders returned to growth in the month after three consecutive contractions, but that did not prevent yet another decline in unfinished business. Reduced work backlogs in turn encouraged firms to cut [...]
USA The Consumer Price Index held steady in October instead of rising 0.1% as per consensus. This followed a 0.4% gain the prior month. Prices in the energy segment fell 2.5% in October as a 1.2% gain for utility gas services was more than offset by declines for gasoline (-5.0%) and fuel oil (-0.8%). The cost [...]
USA The trade deficit widened from $58.7 billion to $61.5 billion. Good imports increased $7.0-billion (to $263.0 billion), led by cell phones/other household goods (+$1.8 billion), passenger cars (+1.7 billion), and computer accessories (+$0.4 billion). Goods exports, for their part, climbed $5.3 billion on gains for civilian aircraft (+$1.0 billion), gem diamonds (+$0.8 billion), and other [...]
USA Nonfarm payrolls rose 150K in October, below the median economist forecast calling for a +180K print. This negative surprise was compounded by a -101K cumulative revision to the previous months’ data. Employment in the goods sector fell 11K as a 23K gain in the construction segment was more than offset by a 35K drop for [...]
