Cervélo Recalls R5 And Caledonia-5 Bicycles
Baby Trend Recalls Cityscape Travel Jogger Strollers
Baby Trend has recalled Cityscape Travel jogger strollers due to risk of fall and injury.
According to the Consumer Product Safety Commission, the parking brake on the strollers can fail, posing fall and injury hazards to children.
The recall involves Cityscape Travel System strollers. The strollers were sold as part of a travel system including a car seat. Baby Trend is printed on the stroller’s frame. A label with Model TJ75B12A, 1-800-328-7363, CITYSCAPE JOGGER TRAVEL SYSTEM, Baby Trend, Inc. 13048 Valley Blvd, Fontana, CA 92335, and the manufacture date and lot information is located on the inside of the side stroller frame.
The recalled products were sold online at Amazon.com and Babytrend.com from January 2021 through May 2021 for about $175.
The company has asked its customers to immediately stop using the recalled strollers. Baby Trend and Amazon are contacting all purchasers directly with instructions for how to return the strollers at no cost in exchange for either a $175 e-voucher for use at Baby Trend’s online store or a full refund.
European Economics Preview: France Industrial Output Data Due
Industrial production from France is the only major statistical report due on Friday, headlining a light day for the European economic news.
At 2.00 am ET, Statistics Norway releases consumer and producer prices for August. Consumer price inflation is forecast to rise to 7.1 percent from 6.8 percent in July.
At 2.45 am ET, France’s statistical office Insee is slated to issue industrial production for July. Economists expect output to fall 0.5 percent on month, reversing a 1.4 percent rise in June.
At 3.00 am ET, industrial production figures are due from Spain, Austria and Slovakia.
At 5.00 am ET, industrial production and consumer price figures are due from Greece.
China Consumer Price Inflation Unexpectedly Eases
China’s consumer price inflation unexpectedly slowed in August and factory gate inflation hit an 18-month low, providing space for the central bank to ease its monetary policy to support the struggling economy.
Consumer price inflation eased to 2.5 percent in August from 2.7 percent in July, data released by the National Bureau of Statistics showed Friday. The rate was forecast to rise slightly to 2.8 percent.
Core inflation that excludes food and energy prices, held steady at 0.8 percent in August.
Food price inflation came in at 6.1 percent in August, down from 6.3 percent in July. The annual price growth was largely driven by the 22.4 percent increase in pork prices.
In a separate communiqué, the NBS said producer price inflation slowed notably to 2.3 percent in August from 4.2 percent in July. The rate was also below economists’ forecast of 3.1 percent.
Factory gate inflation is set to fall further throughout the rest of the year thanks to a continued drop back in commodity prices and a higher base for comparison, economists at Capital Economics, said.
Also, the economists expect consumer price inflation to remain below the central bank’s 3 percent ceiling.
As such, the People’s Bank of China will not be constrained to ease policy further to support economy, economists noted. After lowering policy rates in August, the bank is likely to cut policy rates during the rest of the year.
New York Manufacturing Index Indicates Modest Contraction In September
The Federal Reserve Bank of New York released a report on Thursday showing a notable rebound in regional manufacturing activity in the month of September.
The New York Fed said its general business conditions index surged to a negative 1.5 in September from a negative 31.3 in August, although a negative reading still indicates a contraction in regional manufacturing activity. Economists had expected the index to climb to a negative 13.0.
The bigger than expected rebound by the headline index partly reflected significant turnarounds in new orders and shipments.
The new orders index soared to a positive 3.7 in September from a negative 29.6 in August, while the shipments index spiked to a positive 19.6 in September from a negative 24.1 in August.
The number of employees index also rose to a positive 9.7 in September from a positive 7.4 in August, indicating slightly faster job growth.
On the inflation front, the prices paid index tumbled to a positive 39.6 in September from a positive 55.5 in August, while the prices received index slumped to a positive 23.6 in September from a positive 32.7 in August.
The report also showed the index for future business conditions rose to a positive 8.2 in September from a positive 2.1 in August.
However, the New York Fed said the latest reading suggests firms were still not very optimistic that business conditions would improve over the next six months.
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Cervélo Recalls R5 And Caledonia-5 Bicycles
Cervélo USA has recalled R5 and Caledonia-5 Bicycles along with replacement stems due to fall hazard.
Cervélo has recalled about 1,800 model year 2022 Cervélo R5 and Caledonia-5 bicycles and 182 Cervélo ST31 LT replacement stems. In addition, about 243 bicycles were sold in Canada.
According to Consumer Product Safety Commission, the handlebars on the bicycles can slip in the stem and cause the rider to lose control, posing a fall hazard.
The company said it received 13 reports of handlebar slippage. One injury has been reported, resulting from a fall.
The recalled products were sold at Cervélo dealership nationwide from May 2021 through July 2022 for between $5,000 and $13,000 (bicycles) and about $300 (ST31 LT replacement stems).