Weekly Economic Update: May 13-17, 2013

May 20 2013

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Retail sales increased 0.1% in April. Business inventories remained unchanged in March. The topline PPI fell 0.7% in April as the core rose 0.1%. Industrial production fell 0.5% in April. The topline CPI fell 0.4% in April as the core rose 0.1%. Housing starts fell 16.5% in April to an annual pace of 853,000. Building permits increased 14.3% in April to an annual pace of 1,017,000. Initial jobless claims rose 32,000 to 360,000 for the week ended 5/11.

• Retail sales increase 0.1% in April. Less autos, retail sales fell 0.1%. Less autos and gas, retail sales rose 0.6%.

• Business inventories remained unchanged in March.

• The topline producer price index fell 0.7% in April while the core PPI rose 0.1%. Topline fell due to a drop in gasoline and food prices, matching consensus.

• Industrial production fell 0.5% in April.

• The topline consumer price index fell 0.4% in April while the core CPI rose 0.1%.

• Housing starts fell 16.5% in April to an annual pace of 853,000.

• Building permits increased 14.3% in April to an annual pace of 1,017,000.

• Initial jobless claims rose 32,000 to a level of 360,000 for the week ended May 11th.

 

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