USANominal personal income rose 0.2% in August, two ticks less than the median economist forecast calling for a +0.4% print. The wage/salary component of income moved up 0.5%, while income derived from government transfers edged up 0.1%. Personal current taxes, meanwhile, jumped 0.5%. All this translated into a 0.2% increase in disposable income.Nominal personal spending, [...]
USAAfter being negatively impacted by Hurricane Beryl in July (-0.9%), industrial production rebounded in August, increasing by 0.8%. Manufacturing output expanded 0.9% thanks in large part to a 9.8% jump in the motor vehicles/parts segment. Excluding autos, factory output rose a more subdued 0.3%. Among the main subcategories, primary metals (+3.2%) and electrical equipment (+2.0%) [...]
USA The Consumer Price Index rose a consensus-matching 0.2% in August. This came in the wake of another 0.2% increase the prior month. Price in the energy segment fell 0.8% on declines for gasoline (-0.6%), fuel oil (-1.9%), electricity (-0.7%) and piped gas services (-1.9%). The cost of food, meanwhile, edged up 0.1%. [...]
USANonfarm Payrolls (NFP) rose 142K in August, less than the median economist forecast calling for a +165K print. This negative surprise was compounded by an 86K cumulative negative revision to the prior months’ results. The consensus was that disappointing NFP in July had been partly due to temporary factors, notably Hurricane Beryl, which had kept [...]
USAThe second estimate of Q2 GDP growth came in at +3.0% in annualised terms, a beat above the consensus forecast calling for no change from the advance estimate (+2.8%). Headlines focused on the strength of personal consumption, which jumped to 2.9% from 2.3% in the advance estimate. There were upward revisions for both goods (durable [...]
