Weekly Economic Update: January 7-11, 2013

Jan 14 2013

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Consumer credit increased 0.6% to $2.768 trillion in November. The U.S. trade deficit increased 15.7% to $48.7 billion. The U.S. Treasury recorded a deficit of $0.3 billion in December. Initial jobless claims rose 4,000 to 371,000 for the week ended 1/5.

• Consumer credit increased $16 billion (0.6%) to $2.768 trillion in November. Revolving credit (i.e., credit cards) was up 0.4% while non-revolving credit (i.e., auto loans) increased 0.6%.

• The U.S. trade deficit unexpectedly widened $6.6 billion (15.7%) to $48.7 billion in November. A 3.8% increase in imports (led by strong demand for a range of consumer items -- most notably smartphones) outpaced the 1.0% increase in exports.

• The U.S. Treasury recorded a deficit of $0.3 billion in December.

• Initial jobless claims increased 4,000 to a level of 371,000 for the week ended January 5th.

 

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