Consumer credit increased 3.6% in September.  The U.S. trade deficit narrowed 4.0% in September to $43.1 billion. The U.S. Treasury reported a deficit of $98.5 billion in October. Initial jobless claims fell 10,000 to a level of 390,000 for the week ended 11/5.

• Consumer credit increased $7.4 billion (3.6%) in September to an annual pace of $2.452 trillion.  The overall increase was led by an $8.0 billion rise in non-revolving credit.  Revolving credit (primarily credit cards) declined by $0.6 billion, marking the third straight month of decline in this category.
• The U.S. trade deficit narrowed by $1.8 billion (4.0%) to $43.1 billion in September.  Big ticket sales such as autos, airplanes, and heavy machinery contributed to an all-time high in U.S. exports.  September marks the smallest monthly trade deficit thus far in 2011.
• The U.S. Treasury reported a deficit of $98.5 billion in October. 
• Initial jobless declined 10,000 to 390,000 for the week ended November 5^th.