Here is today's full data dump, presented in summary form
- Initial claims: 351K vs 356K Expected, Previous revised higher of course from 362K to 365K, just as we predicted last week.
- This number will be revised to +354K next week.
- Empire Fed: 20.21, Exp. 17.50, up from 19.53 previously
- New Orders dropped 6.84 vs 9.73
- Prices Paid explodes to 50.62, 25.88 previous. Biggest Rise since January 2009
- PPI: 0.4% vs 0.5% Exp, 0.1% Previous
- PPI ex food and energy: 0.2%, Exp 0.2%
The only two charts of note from today's data dump that matter: Prices Paid, +25, and Prices Received: -2. Goodbye corporate margins.
Prices Paid:
Prices Received:
The jump in Prices Paid was the biggest one month change on record, matching only one time in history.
[2]
Prices Paid - Received, aka inverse corporate margins:
[3]