PARIS (Reuters) – Producer prices (PPI) in the United States contracted monthly in May against all expectations, show statistics published Thursday by the Labor Department.
The latter announced that the PPI fell by 0.2% last month after an increase of 0.5% in April. On an annual basis, PPI growth slowed to 2.2% after an increase of 2.3% (revised from +2.2%) in April.
Economists polled by Reuters forecast an increase of 0.1% monthly and 2.5% annually on average.
The producer price index excluding energy, food and commercial services stagnated in May after a gain of 0.5% in April on a monthly basis, while on an annual basis, the increase was identical to that of April (+3.2%).
On Wall Street, futures on the main indices suggest an opening down 0.09% for the Dow Jones, but up 0.33% for the Standard & Poor’s 500 and 0.79% for the Nasdaq. . The latter two indices amplified their gains, while the Dow Jones reduced its losses, after the publication of the PPI statistic.
(Written by Claude Chendjou, edited by Blandine Hénault)
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