Retracting the Bush Boom

From Holden:

Producer prices rise unexpectedly.

U.S. stock-index futures declined after a government report showed producer prices last month increased at a faster rate than economists expected.

“Overall it wasn’t a great PPI report,” said Larry Peruzzi, senior equity trader at Boston Co.

[snip]

The producer price index, a measure of what factories, farms and other suppliers are paid for their goods, increased 0.6 percent in April, the Labor Department said in Washington. Economists expected a gain of 0.4 percent, according to a Bloomberg News survey. Excluding energy and food, the so-called core measure of producer prices added 0.3 percent, the biggest rise in three months, after a 0.1 percent gain.

A report due tomorrow will likely show consumer prices climbed 0.4 percent in April after rising 0.6 percent a month earlier.