Weekly Economic Update: September 9-13, 2013

Sep 16 2013

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Consumer credit increased $10.44 billion to $2.852 trillion in July. The U.S. Treasury reported a deficit of $147.9 billion for August. The topline producer price index increased 0.3% in August while core PPI was unchanged. Retail sales increased 0.2% in August. Business inventories increased 0.4% in July. Initial jobless claims fell 31,000 to 292,000 for the week ended 9/7.

• Consumer credit increased $10.44 billion to $2.852 trillion in July. Revolving credit (i.e., credit cards) fell $1.8 billion while non-revolving credit (i.e., auto loans) rose $12.2 billion.

• The U.S. Treasury reported a deficit of $147.9 billion for August. The government deficit 11 months into the fiscal year is down 35% from last year at this time to $755.3 billion.

• The topline producer price index increased 0.3% in August while core PPI was unchanged.

• Retail sales increased 0.2% in August. Sales excluding autos increased 0.1%, and sales excluding autos and gas also increased 0.1%.

• Business inventories increased 0.4% in July.

• Initial jobless claims fell 31,000 to a lower-than-expected level of 292,000 for the week ended September 7th. The Labor Department warns an administrative issue involving computer upgrades in two states may have undercounted claims.

 

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