Weekly Economic Update: January 9-13, 2012
Consumer credit increased $20.4 billion in November. Retail sales edged up 0.1% in December. The U.S. trade deficit widened$4.5 billion to $47.8 billion. The U.S. Treasury reported an $86 billion deficit in December. Business inventories were up 0.3% in December. Initial jobless claims rose 24,000 to a level of 399,000 for the week ended 1/7.
- Consumer credit exceeded expectations with a $20.4 billion increase in November, to $2.478 trillion. This was the largest increase (in both percent and dollars) in 10 years. Both revolving and non-revolving credit increased by similar percentages.
- Retail sales edged up 0.1% in December. Excluding autos, sales unexpectedly declined 0.2%.
- The U.S. trade deficit widened by a larger-than-expected $4.5 billion to $47.8 billion in November.
- The U.S. Treasury reported a deficit of $86 billion in December.
- Business inventories increased 0.3% in November.
- Initial jobless rose 24,000 to 399,000 for the week ended January 7th.