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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
MNI (London)
The Chicago Business Barometer™ Survey found evidence for further price push-back in the March survey, which contributes to the narrative of cooling factory-gate inflation in coming months.
- US final demand PPI cooled by -0.1% m/m and slowed by 1.1pp to +4.6% y/y in February. Easing supply chain pressures and commodity prices have aided the decline in US factory-gate inflation, which peaked at +11.7% y/y in March 2022.
- Producer price inflation appears set to continue a downwards trajectory throughout 2023 as base-effects filter in. The second consecutive -0.1% m/m decline in services PPI is a positive signal for easing underlying pressures, yet the short-term outlooks remain clouded, with core goods continuing to see upwards pressure at +0.3% m/m in February.
- The Chicago Business Barometer™ Prices Paid subindex edged up only marginally after the substantial February deceleration. The Prices Paid subindex has a strong correlation coefficient of 0.85 with US annualized PPI -and as such this month's survey points towards PPI cooling at a similar rate in March.
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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