Economic data for the week was light but was led by stronger inflation seen in the consumer price index/ This was seen less so for producer prices, while labor markets continued their run of strength. Equity markets lost ground overall during the week, with additional concerns over global trade and a currency crisis in Turkey. U.S.
Economic news during the week was highlighted by the Fed’s decision to keep interest rates steady, a lukewarm employment situation report for July but stronger labor data in other reports, decent housing numbers, but weaker ISM manufacturing and non-manufacturing numbers held back by tariff concerns.
- Economic data for the week was focused on inflation, with the PPI and CPI both showing gains, and a stronger pace on a year-over-year basis. Labor data, based on job openings and claims, continued to fare well.
- Equity markets rose globally, proving strongest in the U.S., and more tempered abroad. Bonds were little changed in keeping with little interest rate volatil