Week of 2/10 domestic economic report

Week of 2/10 domestic economic report

For the week of 2/10, data continuing through 2/14. This is the complete filing of economic data posted within the United States:

Tuesday 2/11

Wholesale Inventories

-rose less than expected in December

-increased 0.3%

-inventories are a key component of GDP changes = goes into calculation of GDP

-many believe lower than expected because current level of inventory is unsustainable

Wednesday 2/12

Treasury Budget

-surprise surplus in January for 1st time in 5 years = benefited from payroll tax cuts expiring

-$3 billion surplus

-means government’s cumulative deficit for the fiscal year is $209 billion, 17% lower than 1st 4 months of 2012

 Thursday 2/13

Initial jobless claims

-rose last week 339,000

-4 week moving average rose from 33,250 to 336,750

Retail sales

-fell unexpectedly as Americans filing new claims for unemployment benefits rose

-0.1% fall

-0.3% fall in core sales which corresponds most closely with consumer spending component of GDP

-fall in retail sales + increase in initial jobless claims may suggest slowing economic growth in 1st                 quarter

Business Inventories

-rose as expected but slowed down significantly

-increased 0.5% after 0.4% increase in November

-key component in GDP changes

-the government in its advance estimate for 4th quarter GDP said inventories increased $127.2 billion the largest rise in 1st quarter since 1998

-again can this be sustained

Friday 2/14

Import price index

-rose 0.1% it was estimated to be down 0.1%

Industrial production

-decreased 0.3% after rising 0.3% in December

Capacity Utilization Rate

-measure the rate at which potential output levels are being met or used / give insight into the overall slack that is in the economy or a firm at a given point in time

-fell 0.8% = severe weather caused broad drop across industries

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