USA The Consumer Price Index (CPI) rose just 0.1% in November, amounting to a 3.1% year-to-year upswing. The headline print was muted by a downdraft in gasoline prices and ongoing moderation in food costs. In contrast, firmer services prices continue to prop up core inflation. A 0.3% monthly uptick in core prices [...]
USA Nonfarm payrolls rose 199K in November, more than the median economist forecast calling for a +185K print. This positive surprise was offset by a -35K cumulative revision to the previous thanks in large part to a 28K gain in the manufacturing sector. Construction payrolls also expanded (+2K), but only marginally. Jobs in [...]
USA Nominal personal income increased 0.2% in October, in line with the median economist forecast. The wage/salary component showed just a 0.7% gain, the smallest in 10 months, whereas income derived from government transfers edged down 0.7%. Personal current taxes, meanwhile, fell 0.2%. All this translated into a 0.3% increase in disposable income Nominal personal spending, for [...]
