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US DATA: Revisions And Less So Rounding Take Gloss Of PPI Beat

US DATA
USGlobalEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • PPI ex food & energy: 0.32% M/M (cons 0.2) after net downward revisions worth -0.15pps. Note that the downward revision for July was slightly smaller than the rounding on screens suggests, down to -0.17% vs an initial -0.05%.
  • The beat for the steadier PPI ex food, energy & trade services was exaggerated by rounding. It printed 0.25% (cons 0.2) after a net downward revised -0.04pps, including -0.05pps to July with 0.25% vs an initial 0.30%.
  • The difference lies from trade services, rising 0.6% M/M after an even larger than first though -1.7% M/M in July following the 1.3% jump before that. 
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  • PPI ex food & energy: 0.32% M/M (cons 0.2) after net downward revisions worth -0.15pps. Note that the downward revision for July was slightly smaller than the rounding on screens suggests, down to -0.17% vs an initial -0.05%.
  • The beat for the steadier PPI ex food, energy & trade services was exaggerated by rounding. It printed 0.25% (cons 0.2) after a net downward revised -0.04pps, including -0.05pps to July with 0.25% vs an initial 0.30%.
  • The difference lies from trade services, rising 0.6% M/M after an even larger than first though -1.7% M/M in July following the 1.3% jump before that.