U.S. Economic News

November 9, 2018

U.S. Economic Indicators

The University of Michigan Consumer Sentiment Index fell 0.3 point to 98.3 in the preliminary November reading, and is down 0.2 point on the year. The Index of Consumer Expectations declined 0.6 point to 88.7, while the Current Economic Conditions Index edged up 0.1 point to 113.2. Report

The headline Producer Price Index (“PPI”) for final demand rose 0.6% in October and is up 2.9% since October of last year. The core — which removes the volatile prices of food, energy, and trade services — rose 0.2% and is up 2.8% year-over-year. BLS Report
 
The U.S. Census Bureau reports that wholesale merchant inventories rose 0.4% in September to $644.6 billion. 
Inventories were up 5.2% year-over-year. Census Report

U.S. News

Stephanie Yang and David Hodari of the Wall Street Journal report that U.S. oil entered a bear market Thursday. The price of Brent crude oil fell 0.8% to $70.11 per barrel as rising production and softening U.S. oil sanctions on Iran put downward pressure on oil prices. WSJ

 

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