US economic data is mixed 🤨
In the United States, economic data was mixed. Challenger reported that layoffs reached a four-month high of 75,200 in August (an increase of 51,500 from July). On the other hand, initial jobless claims fell by 4,000 to 228,000, better than expected, but the number of people continuing to apply for unemployment benefits increased slightly; the PCE price index in July increased by 0.2% month-on-month, basically in line with expectations, but the year-on-year growth began to accelerate again, reaching 3.3%, higher than the previous value of 3.0% , the core PCE grew by 4.2% year-on-year, also higher than the previous value of 4.1%.
Non-farm employment data will be released today. The market generally expects an increase of 170,000 jobs. However, considering the recent weakness in employment data, the real market expectations may be lower. Other big data indicators seem to confirm a similar downward trend. Recently A strike in Hollywood and layoffs at Yellow Transport could also have had a one-off negative impact on the numbers.
