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Representative David Schweikert - Vice Chairman

Weekly Economic Update: November 14-18, 2011

Weekly Economic Update: November 14-18, 2011

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Industrial production increased 0.7% in October.  Retail sales were up 0.5% in October.  The topline PPI fell 0.3% in October while the topline CPI declined 0.1%.  Housing starts edged down 0.3% in October while building permits rose 10.9%.  Business inventories were unchanged in September. Initial jobless claims fell 5,000 to a level of 388,000 for the week ended 11/12.

  • Industrial production increased 0.7% in October.
  • Retail sales rose 0.5% in October.  Excluding autos, sales were up 0.6%.
  • The topline producer price index fell 0.3% in October while the core PPI was unchanged.
  • The topline consumer price index declined 0.1% in October while the core CPI rose 0.1%.
  • Housing starts edged down 0.3% to an annual pace of 628,000 in October
  • Building permits increased by a greater-than-expected 10.9% to an annual pace of 653,000 in October.
  • Business inventories were unchanged in September.
  • Initial jobless declined 5,000 to 388,000 for the week ended November 12thThis marks the 4th straight week of decline and the lowest level of initial claims since April.

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