U.S. Economic News
August 11, 2020
U.S. Economic Indicators
The NFIB Small Business Optimism Index declined 1.8 points to 98.8 in July as four components improved, five weakened, and one was unchanged. Plans to increase employment and make capital outlays improved, while the economic outlook and sales expectations declined. NFIB Report
The headline Producer Price Index (“PPI”) for final demand rose 0.6% in July but is down 0.4% year-over-year. The core – which removes the volatile prices of food, energy, and trade services – rose 0.3% in July and is up 0.1% from a year ago, the first improvement after three consecutive 12-month declines. BLS Report
U.S. News
The Financial Times reports that signs of weakness are emerging in the U.S. rental market even though renters have largely kept up with their August payments. The proportion of renters using credit cards to pay rent increased, a sign of growing consumer financial stress that may intensify if federal aid programs are not extended and renters see their incomes drop. FT