Commentaries

November 09, 2018

The PMI and ISM Services Indexes came in at 54.8 and 60.3, respectively—both nicely expansionary. Final demand Producer Prices came in at 0.6% for October, and +2.9% year-over-year. This was far ahead of the monthly consensus of +0.2%.
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October 26, 2018

U.S. New Single-Family Home Sales were awful, at 553,000 units versus 625,000 units expected. The large difference was likely due to higher mortgage rates combined with limited supply. Durable Goods Orders came in at +0.8% for September, most of which was transportation equipment. U.S. Real GDP growth was 3.5% on an annualized basis for the third quarter of 2018. The GDP Price Index was up at an annualized rate of 1.7%.
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