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 7^th.