Weekly Economic Update: December 9-13, 2013

Dec 16 2013

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The U.S. budget deficit widened to $135.2 billion in November. Retail sales increased 0.7% in November. Business inventories rose 0.7% in November. The produce price index fell 0.1% in November while core PPI rose 0.1%. Initial jobless claims rose 68,000 to 368,000 for the week ended 12/7.

• The U.S. budget deficit widened to $135.2 billion in November. The budget deficit is down 22% in the first 2 months of the fiscal year, and down from $172.1 billion November of last year.

• Retail sales increased 0.7% in November. Excluding autos, sales were up 0.4%. Excluding both autos and gasoline, sales were up 0.6%.

• Business inventories rose 0.7% in October.

• The producer price index fell 0.1% in November while core PPI rose 0.1%.

• Initial jobless claims rose 68,000 to 368,000 for the week ended December 7th. Adjusting for the holidays can lead to swings in jobless claims.

 

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