U.S. Trade Deficit Widens to Record on Consumer-Goods Imports
“The U.S. trade deficit widened to a record in August, reflecting a pickup in the value of imports of consumer goods and industrial supplies. The gap in trade of goods and services increased 4.2% to $73.3 billion, from a revised $70.3 billion in July, according to Commerce Department data released Tuesday. The median estimate in a Bloomberg survey of economists was for a shortfall of $70.8 billion.”
U.K. Services Prices Jump at Record Pace on Supply-Chain Woes
“The prices paid by customers in the U.K. services sector rose at the fastest pace on record last month as the nation’s supply-chain crisis accelerated inflationary pressures in the economy. With energy prices spiraling and a shortage of staff in haulage, agriculture and meat processing causing significant disruption, U.K. firms have been forced to pass the rapid rises in costs to consumers, according to a survey by IHS Markit.”
India’s Services PMI Signals Expansion Before RBI Rate Decision
“Activity in India’s services signaled expansion for a second straight month as the country eased restrictions amid a decline in virus cases, a survey showed Tuesday. The IHS Markit India Services Purchasing Managers’ Index eased to 55.2 last month, from 56.7 in August, the second month in a row above the 50 thresholds between expansion and contraction.”
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