The following US economic statistics were announced today (or in the case of Consumer Credit, late yesterday):

Total US credit outstanding fell $3.3 billion in July. Revolving credit fell $4.8 billion, the second drop in a row.

The U.S. international trade gap in July grew slightly, as the trade deficit increased to $42 billion from $41.9 billion in June. Exports declined -1.0%, following a 1.2% rise in June. Imports shrank -0.8% after a -1.5% decrease in June.

The NFIB Small Business Optimism Index rose 1.7 points in August to 92.9 in improved sales expectations and in employment plans.

In retail sales, Redbook reported a 2.7% year-on-year sales increase, the best since early June. ICSC-Goldman Store Sales is also showing strength, as sales rose 1.0% for the week, and 3.4% year-over-year.

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Dale Franks
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