USA Producer Price Index and Initial Claims Update

May PPI growth and initial jobless claims came in above market expectations. Consequently, Goldman Sachs revised their estimate for May core PCE to 0.31% MoM.

Key Takeaways

• 1.The May producer price index (PPI) rose 1.1% MoM, exceeding expectations, driven by higher energy prices.
• 2.Estimated May core PCE inflation at 0.31% MoM (3.38% YoY), revised upward from previous expectations.
• 3.Initial jobless claims reached 229k for the week ended June 6, slightly above the consensus estimate of 220k.

Table of Contents

• US MAP
• KEY NUMBERS
• MAIN POINTS