ADP’s August payroll survey shows private employers added just 38,000 jobs, the least since January, with manufacturing shedding 17,000 positions two days before the official BLS report.
Category: Economy
Posted inEconomy
US Manufacturing Expands for Eighth Month but Prices Stay Elevated at 71.1%
The ISM Manufacturing PMI registered 54.6% in August — the eighth consecutive month of expansion — while the prices paid index held at 71.1% for the 23rd straight month of rising input costs.
Posted inEconomy
Eurozone Inflation Rises to 3.3% in August, ECB Hike Odds Hit 98%
The eurozone’s preliminary August CPI climbed to 3.3% from 2.9% in July, with traders pricing near-certain odds of an ECB rate hike in September as energy-driven inflation accelerates for a second straight month.
Posted inEconomy
China’s Factory Activity Edges Toward Recovery as New Orders Turn Positive in August
China’s NBS manufacturing PMI rose to 49.8 in August from 49.2 in July, with new orders and export orders both crossing into expansion territory for the first time since May.
Posted inEconomy
Wheat Surges 12% in a Week as Black Sea Disruptions Tighten Supply
Wheat futures posted their biggest weekly gain since March 2022, reaching a three-year high as Russia-Ukraine fighting cut Black Sea export flows and a USDA supply cut drove corn up 15% in August.
Posted inEconomy
Warsh Debuts at Jackson Hole Warning That Inflation Is Still Too High
Fed Chair Kevin Warsh used his first Jackson Hole address to warn that July PCE inflation at 3.3% does not confirm underlying trends have improved, and called for a quieter central bank that signals less.
Posted inEconomy
Bank of Korea Delivers Back-to-Back Rate Hike to 3%, Citing AI Boom and Sticky Inflation
South Korea’s central bank raised its benchmark rate to 3% on Thursday in a second straight hike, as the AI chip boom stokes wages and inflation across the export-driven economy.
Posted inEconomy
US July PCE Inflation Holds at 3.7% as Consumer Spending Stalls
July PCE inflation hit 3.7% year-on-year, beating forecasts, as consumer spending stalled and the probability of a September rate hold rose to 62%.
Posted inEconomy
Europe Heads Into Winter With Gas Storage at 59%, the Lowest in Five Years
European natural gas prices have climbed to EUR 60 per megawatt-hour as underground storage levels reach just 59 percent of capacity in late August—far short of the EU’s 90 percent target—raising the risk of winter supply rationing and another inflation surge.
Posted inEconomy
Eurozone Factory Growth Hits Four-Year High in August as Export Orders Turn Positive
S&P Global’s August flash PMI put eurozone manufacturing at 52.8, a 54-month high, with the composite activity index at 52.1 as new export orders turned positive for the first time since February 2022.