PPI Data Shows Mixed Results as Unemployment Claims Fall Below Expectations
14.11.2024 17:30 1 min. read Kosta Gushterov
The US economy continues to show mixed signals, as new data was released today regarding the Producer Price Index (PPI) and unemployment claims.
The Core Producer Price Index (PPI) for October revealed a monthly increase of 0.3%, matching expectations, but slightly higher than the previous month’s 0.2%. On a year-over-year basis, the core PPI rose by 3.1%, surpassing the forecasted 3.0% and marking an increase from the previous year’s 2.8%.
Meanwhile, the overall PPI for October also showed a 0.2% monthly increase, in line with expectations, following a flat reading of 0.0% in September. The annual PPI was reported at 2.4%, exceeding the forecasted 2.3% and up from 1.8% in the previous year.
Additionally, new data on unemployment claims showed a decrease in applications for benefits, with the latest figure at 217,000, better than the anticipated 224,000 and slightly down from the previous week’s 221,000. This positive jobs data suggests some resilience in the labor market despite broader economic uncertainties.
These figures provide key insights into inflationary pressures and employment trends in the US economy, as markets remain attentive to signals that could influence future monetary policy decisions.
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