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948 days ago

Spain inflation - highest in almost 10 years

Spain headline inflation 3.3% in August, 0.4% above expectations, and highest in almost ten years. Source: Jeroen Blokland 

#Macro

948 days ago

Core CPI unlikely to lower anytime soon

Inflation has soared in 2021 and it is highly unlikely to vanish as quickly as it appeared given the structural changes (War against Inequality) and pandemic unintended consequences (supply chain dislocation); in the past 6 months the annualized rate of CPI inflation was 7.8%, of core inflation was 6.8% (Chart), US house prices was 19.7% (May) and "pipeline inflation" PPI's are popping higher in US/China/Japan. Source: The Market Ear

#Macro

953 days ago

IHS markit's comp PMI figures show a fall from grace--caveat!

IHS Markit's Comp PMI has been a pretty decent predictor of US Real GDP. We better hope that the correlation is off - way off - in Q3 otherwise the US economy really is cooling off - way off - at the worst possible time. Source: Alhambra Investments

#Macro

955 days ago

Euro Area business growth remains strong

The IHS Markit Eurozone Composite PMI edged down to 59.5 in August from a 15-year high of 60.2 in July and compared to forecasts of 59.7, preliminary estimates showed. Still, the reading pointed to one of the strongest rates of growth over the past two decades although supply chain delays persisted. Service sector growth exceeded that of manufacturing for the first time since the pandemic, buoyed by the further reopening of the economy. Source: Trading Economics

#Macro

959 days ago

US restaurant sales have returned to their pre-pandemic growth path

Food services and drinking places, (restaurants, bars, cafeterias), continued their recovery in July, with sales climbing to an all-time high of $72.2 billion on a seasonally adjusted basis, up from a pandemic low of $29.9 billion in April 2020 and from $52.2 billion in July 2020. Sales have grown the slowest in the past month, most likely due to a surge of Covid cases, and we should be awaiting a setback for August as well. Source: US Census Bureau, Statista

#Commodities #Macro #Technology
US restaurant sales have returned to their pre-pandemic growth path
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