U.S. Economic News
October 14, 2020
U.S. Economic Indicators
The headline Producer Price Index (“PPI”) for final demand rose 0.4% in September and is up 0.4% year-over-year. The core – which removes the volatile prices of food, energy, and trade services – also rose 0.4% and is up 0.7% from a year ago. BLS Report
U.S. News
According to the Financial Times, some of the largest U.S. banks have a more positive outlook on the U.S. economy after profits rebounded and loan loss provisions tumbled in the third quarter. While strong bank performance may hint at a the start of a broader economic recovery, bank leaders stress that the economic outlook remains contingent on positive developments with respect to virus control and federal stimulus measures. FT
The Wall Street Journal reports that the World Trade Organization ruled that the E.U. may impose tariffs on nearly $4 billion worth of U.S. goods as part of a long-running U.S.-E.U. dispute over aircraft subsidies. While the award amount is far less than the $7.5 billion worth of European goods the WTO authorized the U.S. to impose tariffs on last year, it is substantial enough to give both sides a strong incentive to reach a negotiated settlement. WSJ