August PPI rises more than expected after revised July data, Gordon Johnson notes

August PPI rises more than expected after revised July data, Gordon Johnson notes
August PPI exceeds expectations on revision

Gordon Johnson, CEO / Analyst at GLJ Research, points out that the August Producer Price Index (PPI) headline figure rose by 0.4% month over month, which many analysts have described as in line with expectations.

However, Johnson highlights that the July base was revised upward from 0.0% to 0.1%, which impacts the interpretation of the latest data. The headline PPI year over year is now at 5.5%, adjusted for the prior month revision, compared to the previous expectation of 5.3%. Johnson contends that this outcome is not actually in line with consensus forecasts.

Johnson has previously flagged missing details about Cybercab offerings and the impact of a new U.S. probe as Tesla shares dropped 6 percent following the event, according to a recent report. In another note, he pointed out that Tesla lacks federal, state, and technical approvals required for unsupervised Robotaxi services, with key regulations still in place as reported earlier this year. Johnson’s recent comments continue his focus on regulatory and data-related developments in the market.

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