CHI Fed: manufacturing and service sector growth in Aug was below trend, though not nearly as bad as last year’s lows; while cost pressures decreased, so did planned capital investment and hiring, while outlook deteriorated, now pessimistic on balance:
CHI Fed: manufacturing and service sector growth in Aug was below trend, though not nearly as bad as last year's lows; while cost pressures decreased, so did planned capital investment and hiring, while outlook deteriorated, now pessimistic on balance: pic.twitter.com/M5LxyklIow
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 30, 2024
S&P Global: US flash composite PMI shows services improving while manufacturing plunges to 8-month low and worst output in 14 months; the very troubling part of this report is that services are now shedding jobs, which means the Atlas of today's labor market just shrugged… pic.twitter.com/7sRSZUvJxB
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 30, 2024
Services #inflation stuck but the #FOMC Uber-Doves will cut rates anyway: t.co/23iH2ABBYe
— Sold At The Top (@soldatthetop) August 30, 2024
⚠️FED INFLATION: SERVICES 📈
⭕️The Fed inflation PCE in core came in at 2.6% but the issue is services.
⭕️Service inflation 📈 3.7%
From 2016-2020 this rate was below 3% when the Fed was at the overall target of 2% pic.twitter.com/HnMvdScuLp
— The Coastal Journal (@1CoastalJournal) August 30, 2024