USA The ISM Services index was in the spotlight. In short, the service sector started the year off on a high note. In January, the headline index jumped to a reading of 53.4, up from 50.5 in December. The surprisingly strong upturn is evidence that service sector activity is still running at a [...]
USAOverall, the messaging from the Federal Reserve was positive. Chair Powell stated that the committee was pleased by the progress made thus far on returning inflation to their 2% target, but noted that they would require more time to assess the sustainability of current disinflation trends. With economic growth accelerating last year on the back [...]
USA Real GDP expanded 3.3% annualized in the fourth quarter, a lot more than the median economist forecast calling for a +2.0% print. Year on year, real GDP expanded 3.1%. Domestic demand grew at a healthy clip in the three months to December, supported by household consumption (+2.8% QoQ annualized) as well as [...]
USA Retail sales rose 0.6% in December, overshooting the +0.4% print expected by consensus. The prior month’s result was left unchanged at +0.3%. Sales of motor vehicles and parts contributed positively to the headline print by advancing 1.1% in the final month of Q4. Without autos, retail outlays rose a consensus-topping 0.4% as [...]
USA The Consumer Price Index rose 0.3% in December, more than the median economist forecast calling for a +0.2% print. The index had edged up 0.1% the month before. Prices in the energy segment progressed 0.4% as declines in two categories—fuel oil (-5.5%) and utility gas services (-0.4%)—were more than offset by gains [...]
USANonfarm payrolls rose 216K in December, more than the median economist forecast calling for a +175K print. This positive surprise, however, was offset by a -71K cumulative revision to the previous months ‘data. Employment in the goods sector in December advanced 22K thanks in large part to a 17K gain in the construction sector on [...]
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 The Consumer Price Index edged up a consensus-matching 0.1% in May. Prices in the energy segment dropped 3.6% on declines for fuel oil (-7.7%), gasoline (-5.6%), and utility gas services (-2.6%). The cost of food, meanwhile, advanced 0.2%. The core CPI, which excludes food and energy, rose 0.4% in line with the median economist forecast. [...]
US The Markit flash composite PMI came in at 58.8 in February (vs. 58.7 the prior month), signalling the broadest improvement in private-sector activity in almost 6 years. The degree of optimism towards future output remained very high, with rollouts of vaccines acting as a confidence booster.The manufacturing sub-index edged down from 59.2 to 58.5, [...]
