Weekly Economic Update: February 11-15, 2013

Feb 19 2013

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The Treasury budget showed a rare surplus for January 2013 of $2.9 billion. Retail sales slowed to 0.1% in January. Business inventories rose 0.1% in December. Industrial production fell 0.1% in January. Initial jobless claims fell 27,000 to 341,000 for the week ended 2/9.

• The Treasury budget showed a rare surplus for January 2013 of $2.9 billion. This was due to special calendar factors; in absence of these factors the government would show a deficit of $13 billion for the month.

• Retail sales slowed to 0.1% in January.

• Business inventories rose 0.1% in December.

• Industrial production fell 0.1% in January. This follows two strong months of gains in December and November.

• Initial jobless claims fell 27,000 to a level of 341,000 for the week ended February 9th. This is nearly 20,000 below the forecast for 360,000 and at its lowest level of the recovery.

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