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Free AccessMNI 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$]
To read the full story
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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.