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 [...]
USANew-home sales data for July blew past expectations, rising 10.6% over the month and printing in at 739K versus a median economist forecast calling for just a 623K rise. This rise is further contributed to by a revision in last month's reading, where June data was lifted to 668K from 617K. This month’s release marks [...]
USAThe Consumer Price Index rose 0.2% in July after declining 0.1% the prior month. More precisely, prices advanced 0.15% on an unrounded basis, which allowed year-over-year inflation (2.9%) to print one-tick below consensus (3.0%). Overall energy prices stagnated as increases in fuel oil/other fuels (+1.9%) and electricity (+0.1%) were offset by declines in utility gas [...]
USANonfarm payrolls rose 114K in July, a long shot below the 175K Bloomberg consensus forecast and even further below a revised 179K increase in June. This downside surprise came alongside a 29K cumulative downwards revision to the prior two months. Goods sector employment rose 25K while service-producing industries grew by 72K. Of the headline job [...]
USAThe Consumer Price Index dipped 0.1% in June instead of rising 0.1% as per consensus. This followed a flat reading the prior month. The core CPI, which excludes food and energy, edged up 0.1%. This was less than the +0.2% print expected by consensus and the smallest increase recorded in 41 months (since 2021M01). YoY, [...]
USANFP (Nonfarm payrolls) rose 206K in May, more than the median economist forecast calling for a +190K print. However, this positive surprise was more than offset by a 111K cumulative negative revision to the prior months’ results. Employment in the goods sector rose 19K as a 27K gain in the construction segment was only partially [...]
USAThe third and final estimate of Q1 GDP growth came in at +1.4% in annualised terms, in line with economist survey expectations and a tick higher than the second estimate last month. Household consumption was revised down another half percentage point (from +2.0% to +1.5%), marking a full percentage-point change from the advance estimate in [...]
USARetail sales edged up 0.1% in May, less than the +0.3% print expected by consensus. Adding to the disappointment, the prior month’s result was revised downward, from +0.0% to -0.2%. Sales of motor vehicles and parts contributed positively to the headline print in May, as they expanded 0.8%. Without autos, outlays cooled 0.1%, as gains [...]
