PPI data
Prior was +0.2% m/m
PPI +2.9% vs 2.5% y/y expected
PPI ex food and energy +0.5% vs +0.2% m/m expected
Ex food and energy +2.6% vs 2.3% y/y expected
Hot numbers on producer prices.
"About one-fifth of the October advance in prices for final demand services is attributable to a 1.2-percent rise in margins for machinery, equipment, parts, and supplies wholesaling," the BLS wrote in the report.
I worry that the impacts of trade will increasingly obfuscate economic data in the months ahead. As for this report, it looks like economists underestimated gasoline prices, which rose 7.6%. Clearly that's reversed in the past few weeks and you might even see a lower revision with data at the end of the month to be factored in.
