02:48 PM EDT, 10/16/2024 (MT Newswires) -- Import prices fell by 0.4% in September but were up 0.2% when excluding a 7.1% plunge in petroleum prices.

Export prices fell by 0.7% in September and were down 0.9% excluding a 0.6% gain in agricultural prices.

The New York Federal Reserve's monthly business leaders index, a measure of services conditions, fell to minus 2.2 in October from 0.5 in September, indicating a return to contraction. Other services data will be released over the coming weeks.

The Mortgage Bankers Association reported a 17% drop in mortgage applications in the week ended Oct. 11 after a 5.1% decline in the previous week. Refinancing activity and new home applications both fell sharply due to a third-straight weekly increase in mortgage rates to a two-month high.