Economic headlines that are top-of-mind as we start the week:
— US average hourly wages were up 4.3% in Aug. from year ago (+10.3% in leisure and hospitality), as worker shortages prompt companies to pay more for labor, adding to concerns about persistent inflation.
— US producer prices for final goods were up 0.7% in August and 8.3% in past 12 months, the biggest annual increase since records started in Nov. 2010.
— The European Central Bank said it would lower its level of bond purchases (20 billion euro a month), as Eurozone inflation in Aug. hit a decade-high of 3%.
— New US mortgage applications slipped the first week of Sept. to weakest level since mid-July, as both refinancing and new purchases saw lower activity.
— In October, the European Union will launch 200-billion-euro “green bond” issuance, to fund environmental, digital and social infrastructure projects, 30% of the EU’s 800-billion-euro in regional spending post-Covid.
Disclaimer: Clicking on any of the above links will take you away from the LNW web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.
