The producer price index for final goods and services rose 11.2% from a year ago, posting double digit growth for the third month in row. For March alone, the prices for the same products shot up by 1.4%, from 0.9% in February, the Bureau of Labor Statistics reported on Wednesday. … READ MORE >
Tuan Nguyen
Initial jobless claims fall for third straight week as labor shortage continues
New filings for unemployment benefits beat estimates with a decrease of 6,000 for the week ending Oct. 16, reaching 290,000 initial jobless claims. That’s the lowest level since March 14, 2020, according to a report from the Department of Labor on Thursday. … READ MORE >
Strong demand boosted manufacturing growth as PMI reached a four-month high
The headline manufacturing Purchasing Managers’ Index increased by 1.2 percentage points in September, to 61.1%, continuing to indicate overall expansion of the manufacturing sector. … READ MORE >