Weekly Economic Update: December 13-17, 2010
Overview: Retail sales rose 0.8% in November. The topline PPI rose 0.8% in November while the core PPI increased 0.3%. The topline and core CPI edged up 0.1% in November. The Fed held constant its 0.0%-0.25% target for the federal funds rate. Industrial production increased 0.4% in November. Housing starts rose 3.9% in November while building permits fell 4.0%. The current account balance widened $4.0 billion in the 3rd quarter. Initial jobless claims edged down 3,000 to a level of 420,000 for the week ended 12/11.
Retail sales rose 0.8% in November; excluding autos, sales were up 1.2%.
The topline producer price index rose 0.8% while the core PPI rose 0.3% in November.
Both the topline and core consumer price indices edged up 0.1% in November.
The Fed held constant its target range for the federal funds rate at 0.0%-0.25%.
Industrial production rose 0.4% in November.
Housing starts rose by a greater-than-expected 3.9% to an annual pace of 555,000 units in November.
Building permits unexpectedly fell 4.0% to an annual pace of 530,000 units.
The current account balance widened by $4.0 billion to $127.2 billion in the 3rd quarter.
Initial jobless claims edged down 3,000 to 420,000 for the week ended December 11th. ?