
ABA Data Bank: Core and “supercore” PCE edge down in August
PCE inflation increased for the second consecutive month on a year-over-year basis, rising to 3.5%.
PCE inflation increased for the second consecutive month on a year-over-year basis, rising to 3.5%.
Total housing starts in August fell 11.3% over the month to its lowest level since the summer of 2020.
Prices for both consumers and producers increased again in August, according to the latest CPI and PPI readings from the Bureau of Labor Statistics.
Strong global demand and extended production cuts from major exporting countries such as Russia and Saudi Arabia have pushed WTI crude oil prices to a 10-month high.
Real yields on US 10-year treasury notes have reached the key reading of 2% for the first time in 16 years.
What the Federal Reserve’s commercial bank balance sheet data can and can’t tell us.
In light of the August 2023 downgrade by Moody’s of several US banks, as well as commentary by Fitch Ratings on the banking sector, ABA’s Office of the Chief Economist is providing a brief assessment of the rating agency comments and highlighting critical flaws in some of the assumptions impacting their analyses.
Consumers believe supply-side issues were the most important factors driving the pandemic-era surge in inflation, according to a recent Liberty Street Economics blog post.
Annual inflation ticked up slightly to 3.2% in July, up from 3.0% in June. This was largely due, however, to comparisons against more volatile year-ago inflation levels.
Given the diversity of the CRE sector, banks should not be painted with the broad brush of urban office space exposures.