Economic data continues to reflect a strong rebound in growth this year.
As expected, economic data continues to rebound from the weather affected results in February. The most notable was the Producer Price Index for March. The headline increase was 1.0% for the month which follows the 0.5% rise in February and 1.3% rise in January. Wholesale inflation is running at an 11.9% annual rate in the first quarter of the year, while the YOY increase stands at 4.2%. Some of this upward pressure was from the highly volatile and seasonal pressures of food and energy, but not entirely. The core PPI was up 0.7% in March after the 0.2% rise in February and 1.2% increase in January.
PROBANK AUSTIN ADVISOR - APRIL 12, 2021