Reply To: China and America, a Tale of Two Markets – Traders Market Weekly

#73324
MoneyNeverSleeps
Participant

January import prices increased 0.8% month-over-month. Excluding fuel, import prices were up 0.7%. Export prices also increased 0.8% month-over-month. Excluding agricultural products, export prices were up 0.9%.

The key takeaway from the report was the deflation seen in year-over-year readings. Import prices were down 1.3% (and down 0.3% excluding fuel) while export prices were down 2.4% (and down 1.6% excluding agricultural products).

The February New York Empire State Manufacturing Index checked in at -2.4 (consensus -9.0) following a -43.7 reading for January. The dividing line between expansion and contraction for this series is 0.0, so the February reading connotes an ongoing contraction, albeit at a much slower pace than what was seen in January.