Weekly Economic Update: June 10-14, 2013

Jun 17 2013

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The U.S. Treasury reported a higher-than-expected monthly deficit of $138.7 billion in May. Retail sales increased 0.6% in May. Business inventories rose 0.3% in April. Industrial production was unchanged in May after declining 0.4% in April. The topline producer price index increased 0.5% in May; the core PPI rose 0.1%. The U.S. current account deficit widened $3.8 billion (3.7%) to a lower-than-expected $106.1 billion in the 1st quarter of 2013. Initial jobless claims fell 12,000 to 334,000 for the week ended 6/8.

• The U.S. Treasury reported a higher-than-expected monthly deficit of $138.7 billion in May.

• Retail sales increased 0.6% in May. Excluding autos, sales were up 0.3%.

• Business inventories rose 0.3% in April.

• Industrial production was unchanged in May after declining 0.4% in April.

• The topline producer price index increased 0.5% in May; the core PPI rose 0.1%.

• The U.S. current account deficit widened $3.8 billion (3.7%) to a lower-than-expected $106.1 billion in the 1st quarter of 2013. The current account is up 1 tenth to 2.7% as a percent of GDP.

• Initial jobless claims fell 12,000 to a level of 334,000 for the week ended June 8th.

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