Tausi Insider

U.S. consumer sentiment fell in November, pulled down by persistent worries about inflation and higher borrowing costs, a survey showed on Friday. The University of Michigan’s preliminary November reading on the overall index on consumer sentiment came in at 54.7, down from 59.9 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 59.5. The survey’s reading of one-year inflation expectations edged up to 5.1 per cent from 5.0 per cent in October. The survey’s five-year inflation outlook rose to 3.0 per cent from 2.9 per cent in October. https://www.tausiinsider.com/u-s-consumer-sentiment-falls-in-november-inflation-expectations-rise/?feed_id=426210&_unique_id=649acd6a29cb9

The downturn in manufacturing activity across the euro zone eased in November, according to a survey which suggests while the bloc’s factories still face a harsh winter it may not be as bad as initially feared. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) rose to 47.1 from October’s 46.4, but was below a preliminary reading of 47.3 and under the 50 mark separating growth from contraction. An index measuring output, which feeds into a composite PMI due on Monday and seen as a good guide to economic health, rose to 46.0 from 43.8, marking its sixth month of sub-50 readings. “The PMI signals some welcome moderation in the intensity of the euro zone manufacturing downturn in November, which will support hopes that the region many not be facing a winter downturn as severe as previously anticipated by many,” said Chris Williamson, chief business economist at S&P Global. Suggesting there won’t be a quick revival in the industry new orders fell sharply and a chun...

Canadian economic activity expanded at a faster pace in November and a measure of price pressures cooled, Ivey Purchasing Managers Index (PMI) data showed on Tuesday. The seasonally adjusted index rose to 51.4 in November from 50.1 in October. The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada. A reading above 50 indicates an increase in activity. The gauge of employment dipped to an adjusted 54.3 from 54.6 in October, while the prices index was at 63.5, down from 69.8. The unadjusted PMI edged up to 51.5 from 51.4. https://www.tausiinsider.com/canadian-economic-activity-expanded-at-faster-pace-in-november-ivey-pmi-shows/?feed_id=330436&_unique_id=644b447454db2

U.S. consumer sentiment improved in December amid recent gains on the stock market, while inflation expectations eased to a 15-month low, a survey showed on Friday. The University of Michigan’s preliminary December reading on the overall index of consumer sentiment came in at 59.1, up from 56.8 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 56.9. The survey’s reading of one-year inflation expectations fell to 4.6%, the lowest reading in 15 months, from 4.9% in November. Its five-year inflation outlook was unchanged at 3.0% in November. https://www.tausiinsider.com/u-s-consumer-sentiment-improves-in-december/?feed_id=329492&_unique_id=642f5678bec65

U.S. consumers are becoming more confident that price pressures will ease considerably over the next 12 months, with a survey on Friday showing their one-year inflation expectations falling in January to the lowest level since the spring of 2021. But the road to low inflation will be bumpy as other data on Friday showed import prices unexpectedly increasing in December after five straight monthly decreases, boosted by higher costs for natural gas and food. Overall inflation is retreating as the Federal Reserve’s aggressive interest rate increases cool demand, and bottlenecks in the supply chain ease. “The Fed will be happy to see short-term expectations reverting back to more normal levels,” said Shannon Seery, an economist at Wells Fargo in New York. “That all supports views inflation is indeed slowing, but it’s going to take some time for it to get back to the 2 per cent target that the Fed is looking for.” Year-ahead inflation expectations dropped to a preliminary reading of 4.0 p...

A worker arranges slabs in the factory at IceStone, a manufacturer of recycled glass countertops and surfaces, in New York, on June 3, 2021. ANDREW KELLY/Reuters New York State manufacturing contracted sharply in January as orders collapsed and employment growth stalled, pointing to continued weakness in national factory activity, and little improvement was expected over the next six months. The survey from the New York Federal Reserve on Tuesday offered an early read of conditions in one of the sectors hardest hit by the Federal Reserve’s fastest interest rate hiking cycle since the 1980s. It showed slumping demand and improved raw material supplies slowing inflation at the factory gate. National manufacturing has been shrinking since November, according to data from the Institute for Supply Management. “A variety of manufacturing surveys have been weak across recent months and the Empire State survey suggests that this weakness continued, or perhaps intensified, early this year,” s...