In the 12-month period through April, the PPI increased 2.3%, following a 2.7% gain in March, the Bureau of Labor Statistics said.
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The Consumer Price Index rose 0.4% in April, while the all-items index increased 4.9% over the last 12 months.
The Institute for Supply Management’s Spring Economic Forecast predicts revenue to increase and manufacturing to expand at slower pace.
March orders were up 16.5% over February 2023 orders and just under 2% below March 2022 orders, according to a new report.
Total inventories of merchant wholesalers were $918.5 billion, virtually unchanged from the revised February level.
Non-farm payrolls rose by 253,000 jobs last month, including 15,000 in the construction industry, according to ABC.
On a seasonally adjusted annualized basis, nonresidential spending totaled $997.1 billion for the month, according to ABC.
The central bank lifted rates by a quarter of a percentage point but indicated it may pause further increases.
The construction industry had 341,000 job openings in March, according to an Associated Builders and Contractors analysis of federal data.
The Institute for Supply Management’s monthly Purchasing Managers Index (PMI) remained in contraction territory for a sixth straight month in April.
GDP growth decelerated in 1Q due to a downturn in private inventory investment and a slowdown in nonresidential fixed investment, according to the Bureau of Economic Analysis.
Cutting tool consumption totaled $196.9M, according to the U.S. Cutting Tool Institute and The Association For Manufacturing Technology.
Major ports across the U.S. saw their volumes drop last month to levels not seen since before the COVID-19 pandemic.
After a slow finish to an otherwise-robust 2022, revenue growth continued to decelerate to start 2023.
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While overall construction input prices rose slightly from February, they were 0.9% lower than in March 2022.
The increase was above investor expectations of a 0.2% gain, according to a survey by The Wall Street Journal.
The Producer Price Index fell 0.5% in March, the largest decline since the start of the COVID-19 pandemic in early 2020.
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