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US PPI up by 0.4% in June

Wednesday, Jul 15 2015
The Producer Price Index for final demand advanced 0.4% in June, beating forecasts on 0.2% incline. Final demand prices rose 0.5% in May and declined 0.4% in April. On an unadjusted basis, the final demand index moved down 0.7% for the 12 months ended in June, the fifth straight 12-month decrease. In June, nearly two-thirds of the increase in the final demand index can be attributed to prices for final demand goods, which rose 0.7%. The index for final demand services advanced 0.3%.
 
Separate report on Empire State Manufacturing Index showed  that business conditions improved slightly for New York manufacturers. The headline general business conditions index climbed six points to 3.9. Analysts were predicting incline to 3.4 points. The new orders index was little changed at -3.5, a sign that orders continued to decline, and the shipments index fell four points to 7.9. Labor market indicators signaled a small increase in employment levels and the average workweek. Price indexes pointed to modest increases in both input prices and selling prices, with the prices paid index reaching its lowest level in three years. 
 
After the data USD was pushed higher against its major rivals. Euro is currently being traded few points above 1.0970 level, Sterling is slightly above 1.56 handle, while Aussie is around 0.7440 area. Later today, Industrial Production figures are scheduled for a release.
More in this category: « UK Unemployment Rate rose to 5.6% USD continues uptrend after Industrial Production figures »

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