November 15, 2022 – Economic Results

• November 15, 2022
• realestatelife
• Announcements, Fed, Interest Rates, Politics & Economy, Rates, Real Estate Finance, Recession, Your Real Estate Life

Rosie the Riveter: We got a welcome upside surprise in the NY Fed District as their Nov Empire State Manufacturing Index was back in positive territory for the first time since July. It came in at +4.5 vs. est. of -5.0

Inflation Nation: October headline Producer Price Index (final demand) was much lighter than expected, rising by 0.2% on a MOM basis vs. est. of 0.5%. YOY, it was up 8.0% which is still very ugly but its better than forecasts of 8.3%. Core (ex food and energy) PPI was flat (0.0) on a MOM basis vs. est. of 0.4%, YOY it was up 6.7% vs. est. of 7.2%