MNI DATA IMPACT: US Jobless Claims Rise 6,000 In March 9 Wk>

--February Import Prices 0.6%, But Up Only 0.1% Ex-Petro 

By Kevin Kastner, Harrison Clarke and Shikha Dave

     WASHINGTON (MNI) - The level of initial claims rose by 6,000 to 

229,000 in the March 9 week, above expectations for a 225,000 reading, 

while import prices rose 0.6% in February compared with expectations for 

a 0.4% gain. 

     Here are some of the key factors from the data release on Thursday: 

     - The four-week moving average for claims fell by 2,500 to 223,750 

in the March 9 week after a decline of 3,000 in the previous week. If 

the headline holds steady next week, the average would rise by 3,000 to 

226,750 as a 217,000 level in the February 16 week rolls out. 

     - Unadjusted claims fell by 11,801, led by a 16,409 decline in New 

York. Continuing claims rose by 18,000 to 1.776 million in the March 2 

week, with the four-week moving average falling to 1.766 million. 

     - Ex-petro import prices rose 0.1% in February, and were flat 

excluding all fuels. Total fuel prices rose 4.9%, while petro prices 

alone rose 4.7%.

     - Import prices were down 1.3% year/year, an improvement from the 

1.7% decline in January. Excluding petroleum, prices were down 0.5% 

year/year, the largest 12-month decrease since September 2016 (-0.6%), 

after a 0.4% year/year decline in January. 

     - Outside of the energy components, the import gains were seen in 

industrial supplies excluding fuels and consumer goods, offset by a 

declines in foods, feeds, and beverages and capital goods. 

     - Export prices rose 0.6% in February and were up 0.7% outside of 

a 0.3% gain in agricultural prices. 

     - Import prices from Canada rose 2.3%, while prices from China were 

flat, but were down 0.7% year/year, the largest 12-month decline since 

October 2017 (-0.8%). Prices from Mexico rose 0.5% and were up 0.4% from 

the EU, though prices from Germany specifically were flat. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]