899 days ago
Chinese GDP growth expanded 4.9% year-on-year in the third quarter of 2021, a sharp decline from the 7.9% growth it posted in the second quarter and slightly missing the 5.2% consensus. Shortages and supply chain bottlenecks have slowed growth down. For 2021, China has set an economic growth target of above 6% after growing the least in over four decades in 2020. Source: National Bureau of Statistics of China
902 days ago
US retail sales unexpectedly increased by 0.7% month over month in September, beating the market expectations by 0.2%. This is likely due to the retreat of the delta variant, and we should remember to never underestimate the American consumer. Source: Tradingeconomics, US Census Bureau
903 days ago
Producer prices for final demand in the US were up 0.5% mom in September of 2021, the smallest increase so far this year, and below market forecasts of 0.6%. Nearly 80% of the increase in the PPI can be traced to a 1.3% rise in prices for final demand goods, the largest rise since May, mainly due to gasoline (3.9%). Cost also went up for: beef and veal, residential electric power, fresh and dry vegetables, gas fuels, and primary basic organic chemicals. Prices for final demand services moved up 0.2%, the ninth consecutive advance, led by trade services (0.9%), namely margins for fuels and lubricants retailing (11.6%). Meanwhile, the annual producer inflation continued to accelerate to 8.6%, a new record since November of 2010.
903 days ago
Factory gate prices in China rose at their fastest pace in more than 25 years, as energy prices keep soaring and inflation is weighting on companies. The PPI rose 10.7% in September compared with a year earlier, the highest rate since 1995. Source: FT, China NBS
904 days ago
The annual inflation rate in the US edged up to a 13-year high of 5.4% in September of 2021 from 5.3% in August and above market expectations of 5.3%. The energy index rose 24.8% and the food index increased 4.6%. On a monthly basis, consumer prices advanced 0.4%, above forecasts of 0.3%, with the indexes for food and shelter contributing more than half of the monthly increase.
