Latest Indicators Point to Slow But Improving Economy

WASHINGTON, DC – The economy may be improving after one of the quickest recessions in American history. The downturn was a direct result of the global COVID-19 economic shutdown. In the United States, the U.S. Bureau of Labor Statistics reported this week that the Consumer Price Index (CPI) increased 0.2 percent last month on a seasonally adjusted basis. Prices for all items less food and energy, the “core CPI,” rose 0.2 percent and the food index was unchanged in September. Prices for food at home fell last month (0.4 percent), while food away from home increased again (0.6 percent). The energy index increased for the fourth consecutive month in September, up 0.8 percent. The improvement is also reflected in the most recent National Federation of Independent Business (NFIB) Small Business Optimism Index which increased 1.4 points in September to a historically high reading of 104 points. Almost a quarter of small business owners (23 percent) plan to create new jobs and 36 percent report that they could not fill current positions.
(SOURCE: All Ag News)