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Representative David Schweikert - Vice Chairman

Weekly Economic Update: October 17-21, 2011

Weekly Economic Update: October 17-21, 2011

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Industrial production increased 0.2% in September.  The topline CPI rose 0.3% in September while the core CPI increased 0.1%.  The topline PPI rose 0.8% in September while the core PPI was up 0.2%.  Housing starts jumped 15% in September as building permits declined 5.0% and existing home sales fell 3.0%.  Initial jobless claims fell 6,000 to a level of 403,000 for the week ended 10/15.

  • Industrial production increased 0.2% in September.
  • The topline consumer price index increased 0.3% in September while the core CPI rose 0.1%.  The annual increase in the CPI for fiscal year 2011 was 3.9%.
  • The topline producer price index jumped up 0.8% in September while the core PPI rose 0.2%.   The annual increase in the PPI for fiscal year 2011 was 6.9%.
  • Housing starts surprised on the upside with a 15% increase in September, to an annual pace of 658,000 units.
  • Building permits unexpectedly declined 5.0% to an annual pace of 594,000 units in September.
  • Existing home sales declined 3.0% to an annual pace of 4.91 million units in September.
  • Initial jobless claims fell 6,000 to 403,000 for the week ended October 15th. 

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