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The producer price index rose 0.3% from a month earlier after a 0.1% decline in August, according to the BLS. The increase matched the median projection in a Bloomberg survey of economists.

The final November sentiment index dropped to 51 from 53.6 in October, according to the University of Michigan. Views of personal finances were the dimmest since 2009.

Cooler demand limited the ability of companies to raise prices and offset tariffs. The S&P Global flash September composite output index fell 1 point to 53.6. 

The decline unwinds a large jump in the prior week, when initial claims rose to the highest level in nearly four years. That period included Labor Day, when the data can be more volatile.

Initial claims increased by 8,000 to 237,000 in the week ended Aug. 30. The median forecast in a Bloomberg survey of economists called for 230,000 applications.

While a slight improvement from 48 in July, details of the ISM report were mixed and the gauge remained below the level of 50 that separates expansion and contraction.

Stronger demand is also fueling sustained inflationary pressures.

The U.S. trade deficit narrowed in April by the most on record on the largest-ever plunge in imports, illustrating an abrupt end to the massive front-loading of goods by some companies.

U.S. factory activity contracted in May for a third consecutive month and a gauge of imports fell to a 16-year low as firms pulled back in the face of higher tariffs.

Consumer sentiment fell to a more than two-year low and long-term inflation expectations jumped by the most since 1993, illustrating growing apprehension about the impact from tariffs.