Free Trial

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

US DATA
  • 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. 
101 words

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.
  • 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.