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Representative David Schweikert - Vice Chairman

Weekly Economic Update: Sept. 13-17, 2010

Weekly Economic Update: Sept. 13-17, 2010

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Overview:  Industrial production rose 0.2% in August.  The topline CPI increased 0.3%; the core CPI was unchanged.  The topline PPI increased 0.4% in August; the core PPI rose 0.1%.  Retail sales rose 0.4% in August.  The Treasury recorded a deficit of $90.5 billion in August.  Business inventories rose 1.0% in July.  Initial jobless claims fell by 3,000 to a level of 450,000 for the week ended 9/11.

Industrial production rose 0.2% in August.

The topline consumer price index was up 0.3% in August; the core CPI was unchanged.

The topline producer price index increased 0.4% in August; the core PPI rose 0.1%.

Retail sales rose 0.4% in August; excluding autos, sales were up by a greater-than-expected 0.6%. Consumers increased purchases at department, clothing, and sporting goods stores while sales of bigger-ticket items such as furniture and electronics fell.

The Treasury recorded a smaller-than-expected deficit of $90.5 billion in August.

Business inventories rose 1.0% in July.

Initial jobless claims fell by 3,000 to 450,000 for the week ended September 11th.  

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