⚠️BREAKING: *U.S. PPI FALLS TO 14-MONTH LOW IN OCTOBER, BOOSTING FED PIVOT HOPES 🇺🇸🇺🇸
retreated by as much as 10 basis points, as markets priced in a more dovish approach from the Fed.
Massive disruptions to seaborne trade had caused worldwide shortages of components and other intermediate goods earlier in the year, leading automakers and others to restrict output and squeeze prices higher. Those bottlenecks have, by and large, unwound in recent months, however. The figures showed a conspicuous drop in profit margins across the economy as overall activity slowed. Margins received for final demand services, in particular, fell 0.5%, leading to the first monthly drop in prices for those services in two years. That was due in part to lower fuel costs, as well as lower prices for transportation and warehousing services.
The expansion of profit margins has been a cardinal factor in this year's inflation shock, and has only recently showed signs of reversing. Even in recent weeks, the pressure on margins has been more evident in corporate activity, where various companies - notably at Facebook owner Meta Platforms (NASDAQ:
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