Prices Paid Index in ISM Ticks Down, but Hardly Relief for Fed
Dow Jones11-02 23:49
1049 ET - The rise in the October ISM manufacturing survey was partly due to the ongoing AI buildout, according to a note from Capital Economics, while the prices paid index ticked down slightly. "The drop back in the prices paid index was a surprise considering the further leg up in oil prices last month," analysts say. However, that is hardly a reprieve for the FOMC, as the index remains consistent with headline inflation staying close to 4% around the turn of the year. "This will hardly reassure the Fed that inflation pressures are easing," the note says.
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