January 10, 2025 13:53 GMT
US DATA: AHE Growth One Slightly Weaker Area, But Only If You Squint
US DATA
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- The AHE data offered the only somewhat softer than expected aspect of the report, and even then only when getting into the details with non-supervisory growth of 0.2% M/M.
- The small miss in the overall AHE Y/Y listed below was a) helped by rounding and b) mainly came from a downward revision to back in October.
- Unrounded summary below:
Total AHE:
- M/M (SA): 0.281% in Dec (cons 0.3) from 0.367% in Nov (initial 0.366%)
- Y/Y (SA): 3.931% in Dec (cons 4.0) from 3.973% in Nov
AHE Non-Supervisory:
- M/M (SA): 0.196% in Dec from 0.295% in Nov (initial 0.295%)
- Y/Y (SA): 3.761% in Dec from 3.875% in Nov
Source: Bloomberg, MNI
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