Investing.com -- U.S. producer prices fell by the most in eight months in September, in further evidence of the slowdown hitting manufacturers across the country - and further afield. The data add to pressure on the Federal Reserve to cut interest rates again, in as much as producer prices are often a leading indicator of trends in consumer prices.
Producer prices fell by 0.3% on the month, the biggest drop since January. They haven't fallen by more since 2016.
The annual PPI fell to 1.4% from 1.8%, the lowest since December 2016 and below expectations for an unchanged reading.
The data follow a bigger-than-expected drop in the NFIB Small Business Optimism index to 101.8 in October, from 103.1 in September.
U.S. 2-Year Treasury yield down 3 basis points vs Monday at 1.43%
EUR/USD at $1.0991 vs $1.0984 before the news.