Lucia Mutikani Reuters September 29, 2023 Consumer spending increases 0.4% in August Core PCE price index gains 0.1%; up 3.9% year-on-year Underlying U.S. inflation pressures moderated in August, with the annual rise in prices excluding food and energy falling below 4.0% for the first time in more than two years, welcome news for the Federal
Vince Golle Bloomberg September 20, 2023 The Federal Reserve’s so-called dot plot, which the US central bank uses to signal its outlook for the path of interest rates, shows the median year-end projection for the federal funds rate is 5.6%. The estimate for the end of 2024 increased to 5.1%. Fed policymakers on Wednesday held
Ann Saphir Reuters September 6, 2023 The U.S. services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs -- potential signs of still-elevated inflation pressures. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing PMI rose to 54.5 last month, the highest reading since February
Steve Matthews Bloomberg September 6, 2023 Resilience may lead to fewer rate cuts penciled in for 2024 Separate tracker from Atlanta Fed is at 5.6% for third quarter The US economy has been looking so solid lately that Federal Reserve officials will probably need to double their projection for growth in 2023 when they publish
John Keilman Wall Street Journal April 8, 2023 Record spending on manufacturing construction heralds a made-in-the-U.S. rebound, stoked by green-energy incentives and concerns about foreign supply chains; ‘this is here to stay’ Production at U.S. factories rose last year, but few things were produced at a more furious pace than factories themselves. Construction spending related
Chris Gills Financial Times August 16, 2023 Beijing’s economic woes worsened last week after it emerged China had fallen into deflation. The news highlights how the country is struggling to live up to expectations of a strong recovery after emerging from extended Covid lockdowns. But will falling prices have an impact beyond China’s borders, in
Bloomberg News Bloomberg August 11, 2023 Hello, this is James Mayger in Beijing. China’s deflation threat is real. While that’s a problem for its domestic economy, Americans and many others around the world should welcome the news about falling Chinese prices. The US and elsewhere have been grappling with skyrocketing inflation in the years since the
Sylvan Lane The Hill June 30, 2023 Annual inflation fell in May to the slowest pace since April 2021, as Americans pulled back their spending, according to data released Friday by the Commerce Department. The personal consumption expenditures (PCE) price index, which is the Federal Reserve’s preferred way to track inflation, rose 3.8 percent annually
Eliza Winger Bloomberg June 1, 2023 OUR TAKE: The ISM manufacturing gauge declined further in May, its seventh straight month in contractionary territory. With consumers shifting their purchases toward services rather than goods, it’s hard to foresee a return to positive territory anytime soon. With the May print showing demand easing and prices paid dropping
Alex Tanzi Bloomberg May 23, 2023 The pace of US money supply declined in April for a fifth month, an unprecedented stretch that offers hope that inflationary pressures will continue to cool. The M2 measure, which includes cash in circulation as well as bank and money market accounts, dropped 4.6% to $20.7 trillion from the same