Weekly Economic Update: June 13-17, 2011
Overview: Retail sales were down 0.2% in May, but excluding autos, sales were up 0.3%. The topline and core PPI rose 0.2% in May. The topline CPI also increased 0.2% while the core CPI rose 0.3%. Industrial production edged up 0.1% in May. Housing starts increased 3.5% in May while building permits rose 8.7%. The U.S. current account deficit widened 6.3% in the 1st quarter of 2011. Initial jobless claims fell 16,000 to a level of 414,000 for the week ended 6/17.
- Retail sales fell 0.2% in May; excluding autos, sales were up 0.3%.
- Both the topline and core producer price indices increased 0.2% in May.
- The topline consumer price index rose 0.2% in May as the core CPI rose 0.3%.
- Industrial production edged up 0.1% in May.
- Housing starts increased 3.5% to an annual rate of 560,000 units in May.
- Building permits rose 8.7% to an annual rate of 612,000 units in May.
- The U.S. current account balance widened by a lesser-than-expected $2.1 billion (6.3%), to $119.3 billion, in the 1st quarter of 2011.
- Initial jobless claims fell 16,000 to 414,000 for the week ended June 17th.
