- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller June 15, 2016
The headline Final Demand Producer Price Index increased 0.4% (-0.1% y/y) in May following an unrevised 0.2% April rise. A 0.3% rise had been expected in the Action Economics Forecast Survey. A 2.8% gain in energy prices (-14.6% y/y) was accompanied by a 0.3% increase (-2.6% y/y) in food prices. Excluding food & energy, the PPI strengthened 0.3% (1.2% y/y), the quickest rise since January. Expectations were for a 0.1% increase.
On the energy price front, the jump in prices was driven by a 6.6% increase (-28.8% y/y) in gasoline prices which added to strength during the prior two months. Home heating oil prices also increased 18.7% (-37.7% y/y) following a 30.5% drop. Natural gas prices rebounded 1.9% (-3.2% y/y), but electric power costs eased 0.6% (-3.2% y/y) and reversed a 0.6% rise.
The increase in food prices reflected a 7.4% gain in egg prices, down by one half y/y, as well as a 10.2% rise (4.9% y/y) in vegetable costs. Beef & veal prices fell 5.2% (-20.8% y/y) while dairy product prices eased 1.3% (-3.8% y/y).
Core producer goods prices for final demand increased 0.3% (0.7% y/y), the same as in April. These gains followed four consecutive 0.1% up ticks. Durable consumer goods prices rose 0.3% (0.6% y/y), but core nondurable goods costs remained steady (3.9% y/y) following a 0.6% rise. Capital equipment prices edged 0.1% higher (0.5% y/y).
The 0.2% service price increase (1.4% y/y) was the firmest since January. It reflected a 3.0% jump (7.0% y/y) in capital equipment trade. Personal consumption trade prices improved 0.6% (1.4% y/y) while government goods trade prices increased 2.1% (2.4% y/y). Passenger transportation prices decreased 2.5% (-6.5% y/y). Prices for transportation & warehousing of goods eased 0.1% (-1.7% y/y). Service prices excluding each of these categories fell 0.2% (+1.3% y/y).
Construction costs for final demand gained 0.1% (1.9% y/y) after a 0.8% increase.
Prices for intermediate processed goods jumped 0.8% (-4.6% y/y), the strongest rise in twelve months.
The PPI data are contained in Haver's USECON database with further detail in PPI and PPIR. The expectations figures are available in the AS1REPNA database.
|Producer Price Index (SA, %)||May||Apr||Mar||May Y/Y||2015||2014||2013|
|Excluding Food & Energy||0.3||0.1||-0.1||1.2||0.8||1.7||1.5|
|Excluding Food, Energy & Trade Services||-0.1||0.3||0.0||0.8||0.6||1.2||--|
|Goods Excluding Food & Energy||0.3||0.3||0.1||0.7||0.4||1.5||1.1|
|Intermediate Demand - Processed Goods||0.8||0.3||-0.2||-4.6||-6.9||0.6||0.0|