U.S. Inflation Gauges Firm as Cleveland Fed CPI Nowcast Hits 3-Year High
U.S. inflation indicators are pointing higher, with the Cleveland Fed's CPI nowcast reaching its highest level in three years and six-month forecasts for the prices paid component rising sharply in the Philadelphia Fed and Kansas City Fed manufacturing indexes. The figures add to signs that price pressures are building.
S&P Global's May flash PMI survey showed input price inflation at its highest since November 2022, with manufacturing input costs posting their largest monthly increase since June 2022. The same survey put U.S. manufacturing activity at a four-year high, with the PMI at 55.3.
From the sources (11 posts)
@zerohedgeUS PMIs Lead The World As Manufacturing Tops 4-Year Highs, Services Sink
@bulltheoryioBREAKING: S&P Global Manufacturing PMI flash came in at 55.3 Expectations: 53.8 This is the highest print in 3+ YEARS.
@financialjuice🔴 US S&P Services PMI Flash Actual 50.9 (Forecast 51.2, Previous 51.0) 🔴 US S&P Manufacturing PMI Flash Actual 55.3 (Forecast 53.8, Previous 54.5) US S&P Composite PMI Flash Actual 51.7 (Forecast 51.8, Previous 51.7)
@firstsquawkUS S&P GLOBAL MANUFACTURING PMI (MAY) ACTUAL: 55.3 VS 54.5 PREVIOUS; EST 53.8
@zerohedgeMfg PMI 55.3, Exp. 53.8 Services PMI 50.9, Exp. 51.2
@lizannsondersMay @SPGlobalPMI U.S. Manufacturing up to 55.3 vs. 53.8 est. & 54.5 prior; Services PMI down to 50.9 vs. 51.2 est. & 51.0 prior; Composite PMI unchanged at 51.7 vs. 51.8 est. & 51.7 prior
@reutersUS manufacturing activity rises to four-year high in May, S&P Global survey shows
@kevrgordonManufacturing input prices are soaring per the May @SPGlobalPMI update
@dlineminutes“Input price inflation surged to its highest since November 2022, in part due to supply constraints but also driven up by increased energy prices. Manufacturing input costs registered their largest monthly increase since June 2022. While th
@lisaabramowicz1The Cleveland Fed's CPI nowcast has reached the highest level in three years.
@lizannsondersSharp increase in 6-month forecast for prices paid component within @philadelphiafed and @KansasCityFed Manufacturing Indexes