Recap of this week’s U.S. Economic Data:
- The ISM non-manufacturing PMI improved to a reading of 56.0 in June.
- Consumer credit grew at an annual rate of 5.9% in June. Credit card use declined but student and auto loans saw continued growth.
- The international trade deficit was $34.2 billion in June, the lowest it has been since October of 2009.
- The national gasoline price per gallon for all formulations of regular was $3.63 in July, up about 14 cents from June.
- Initial jobless claims for the week were 333k and have been stabilized well below 400k.
- Store sales for the week were up 2.1% and up 3.2% from a year ago (4 week MA).
Further reading on Economic Data:
- Beyond The Horizon: U.S. Off-Balance-Sheet Liabilities
- Contrary To Popular Belief, Young Credit Card Users Are Not The Most Likely To Default
The U.S. economic schedule for the week ahead:
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Monday, August 12, 2013
- Treasury Statement – Last 12mo rolling budget deficit of $694.7 billion.
Tuesday, August 13, 2013
- Business inventories – Last inventories-to-sales ratio at 1.29.
- Retail Sales – Last +5.7% Y/Y.
- Weekly store sales
Wednesday, August 14, 2013
- Producer price index – Last +2.5% Y/Y.
Thursday, August 15, 2013
- Consumer price index – Last +1.8% Y/Y.
- Empire State manufacturing survey – Last +9.46.
- Philly Fed manufacturing survey – Last +19.8.
- Industrial production – Last +1.8% Y/Y.
- Weekly initial jobless claims
Friday, August 16, 2013
- Housing starts – Last SAAR of 836k.
- Productivity and costs – Last labor productivity +0.9% Y/Y, unit labor costs +1.1% Y/Y.
- Consumer sentiment – Last 85.1.