Weekly Economic Update: November 14-18, 2011
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 12th. This marks the 4th straight week of decline and the lowest level of initial claims since April.