Weekly Economic Update: October 11-14, 2011
Overview: Retail sales were up 1.1% in September. The U.S. trade deficit was unchanged at $45.6 billion in September. The U.S. Treasury reported a deficit of $64.6 billion for September. Business inventories rose 0.5% in August. Initial jobless claims fell 1,000 to a level of 404,000 for the week ended 10/8.
- Retail sales increased 1.1% in September. Excluding autos, sales were up 0.6%.
- The U.S. trade deficit was unchanged at a level of $45.6 billion in August.
- The U.S. Treasury reported a deficit of $64.6 billion in September.
- Business inventories rose 0.5% in August.
- Markets closed the week up significantly. The Nasdaq, which rose 7.6%, posted its largest weekly gain since March of 2009. The rate on 10-yr. Treasury notes continued to rise.
- Initial jobless claims fell 1,000 to 404,000 for the week ended October 8th.