Recap of this week’s U.S. economic events:
- The Treasury statement showed that the 12 month rolling budget deficit decreased to $680 billion in August.
- Consumers’ credit card use declined again while student and auto loans continue to grow.
- Participation in the Supplementary Nutrition Assistance Program, also known as food stamps, increased by 125k people in June.
- Business sales outpaced inventories in July. The inventory-to-sales ratio decreased to 1.28.
- Retail sales increased 0.2% in August.
- The producer price index was up 1.4% year over year in August.
- In the preliminary reading for September, consumer sentiment tanked to 76.8.
- Initial jobless claims for the week declined to 292k and the insured unemployment rate decreased to 2.2%, but expect an upward revisions next week.
- The M2 money supply increased 0.11% week over week.
- Consumer staples led store sales higher, but department stores showed weakness.
Further reading on the U.S. economy this week:
- An Overview Of The U.S. Government’s Response To The Financial Crisis
- 2014 Federal Budget: Visualizing How Your Tax Dollars Are Spent
- Part-Time Workers And BLS Data Confusion
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Schedule for the week ahead:
Monday, September 16, 2013
Tuesday, September 17, 2013
- Consumer Price Index – Last up 2.0% Y/Y.
- Weekly Store Sales
Wednesday, September 18, 2013
Thursday, September 19, 2013
- Philly Fed Manufacturing Survey – Last +9.3.
- Weekly Initial Jobless Claims
- Weekly Money Supply
Friday, September 20, 2013
- State Employment – Last up in 9 states Y/Y.