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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The 3.5% annualized pace for the overall Employment Cost Index is the softest since 2Q21. Details below.
- Tomorrow’s labor productivity data (estimated at 2.5% ar after a booming 5.2% in Q3) will help guide implications for inflationary pressures.
- Focusing on the private wages & salaries component, the moderation to 3.7% annualized tallies with the 3.7% seen in the AHE data for Q4, and is softer than the 4.2% in the non-supervisory data (at least at this stage prior to revisions). Details below.
- ECI for all workers: 0.87% Q/Q (cons 1.0) or 3.5% ar in Q4, from 1.07% Q/Q (4.3% ar) in Q3.
- ECI for private sector: 0.87% Q/Q or 3.5% ar in Q4 from 4.1% ar in Q3.
- Wages & salaries for all workers: 0.93% Q/Q or 3.8% ar in Q4, from 4.9% ar in Q3.
- Wages & salaries for private sector: 0.92% Q/Q or 3.7% ar in Q4, from 4.3% ar in Q3.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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