Free Markets, Free People
Economic Statistics for 11 Dec 12
Following a quiescent Monday, the us economic calendar kicks off this week with the following statistics:
In weekly retail sales, Redbook reports a 2.2% increase from the previous year. ICSC-Goldman reports a weekly sales decline of -0.7%, and a 2.5% increase on a year-over-year basis. Sales growth has been slow for two straight weeks, and analysts say consumers are awaiting the final round of pre-holiday bargains before buying.
The U.S. international trade gap in October widened to $-42.2billion as exports declined.
The NFIB Small Business Optimism Index in November fell a steep 5.6 points to 87.5, going deeper into recessionary territory.
Wholesale inventories rose 0.6% in October, with an unexpected -1.2% drop in sales, leaving a stock-to-sales ratio at a troubling 1.22.