U.S. Economic News
August 9, 2018
U.S. Economic Indicators
The headline Producer Price Index (“PPI”) for final demand was unchanged in July and is up 3.3% since July of last year. The core — which removes the volatile prices of food, energy, and trade services — rose 0.3% and is up 2.8% on the year. BLS Report
The U.S. Census Bureau reports that wholesale merchant inventories inched up 0.1% in June to $632.4 billion. Inventories were up 5.1% year-over-year. Census Report
Initial jobless claims fell 6,000 to 213,000 last week. The four-week moving average decreased 500 to 214,250. DOL Report
U.S. News
Jennifer Smith of the Wall Street Journal reports that trucking capacity is critically low in the U.S. and has driven hauling rates up 29% from last year. The trucking market is now in its longest period of sustained price increases since the industry was deregulated in 1980, causing many businesses to lock in long-term contracts at exceptionally high rates to avoid further price increases. WSJ