Free Trial

Manufacturing Delivery Times Continue To Support Softer Goods Inflation

US DATA
  • Just as with the headline Empire and Philly manufacturing surveys, the supplier delivery time components were mixed but on balance showed a small easing in inflationary pressures in the first business surveys for December.
  • The continued low levels of the index below pre-pandemic levels (i.e. faster delivery times), likely a combination of both easing supply chain conditions (see NY Fed GSCPI in chart) and reduced demand, help support the idea that softer goods inflation could be here to stay in the near-term.
  • It clearly offers less insight into service inflation though, hence the increased focus on labour markets for determining future non-shelter service inflation.


To read the full story

Close

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.