Thursday data deluge: PPI, retail sales, jobless claims, et al
SPY•US producer prices rose 1.3% in September, above the 0.5% consensus, while retail sales increased 0.8%, beating expectations. Initial jobless claims rose by 1,000 to 199,000.
1. Prices run hotter
The Labor Department’s producer price index rose 1.3% in September from the prior month, compared with a 0.5% consensus, and was up 6.3% year over year. Excluding food and energy, prices increased 0.7% monthly and 5.0% annually. The energy component climbed 10.8% from August.
2. Retail sales advance
US retail sales increased 0.8% in September, above the 0.3% estimate but below August’s upwardly revised 1.3% gain. Gasoline-station sales rose 6.4%, while the control-group measure increased 0.1%, short of the 0.3% consensus.
3. Claims and factory activity
Initial jobless claims rose by 1,000 to 199,000, 1,000 below estimates, while continuing claims slipped to 1.710 million. The Empire State manufacturing index rose to 25.5, above its 10.25 estimate, and the Philly Fed index fell to 20.9, below its 28.9 estimate.
