2 But scale cuts both ways. As some #firms grow and others get disrupted, we will over time see a meaningful impact on the US #labormarket. #AI #usecon
CIBC: The US April #producerprice #data provided a shockingly high upside surprise, but the details look less scary. The final demand #price #index surged by 1.4% m/m & the ex. food/energy index jumped by 1.0% m/m, relative to consensus expectations of 0.5% and 0.3%, respectively #usecon #inflation
1 Bloomberg: The New York Fed’s Economic Heterogeneity Indicators show #retailspending in the US driven by #high-incomehouseholds earning more than $125,000 per year. 🧵 #usecon #USEconomy #KShapedEconomy
3 CIBC: … well above the 0.2% consensus expectation, while the prior month's reading was revised up by a tick to 0.6%. #retailsales #usecon
2 CIBC: However, that didn't stop #consumers from #spending elsewhere, as the control group of sales that feeds more directly into non-auto goods #consumption in #GDP (and excludes gasoline, autos, restaurants, and building materials) posted a 0.7% increase … 🧵 #usecon #retailsales
1 CIBC: #Retailsales surged in the #US in March, driven both by higher #gasoline #prices and resilience in discretionary categories. The 1.7% headline increase was above the consensus expectation of 1.4% and included a 16% jump in gasoline station receipts. 🧵 #usecon
3 CIBC: … greater pass through to core components, but looking beyond the war-induced #volatility, #tariff impacts appear to be boosting some categories still, with #apparel #prices rising strongly again, while #shelterprices ticked up on the month on the owners' equivalent rent component. #usecon