- The US Trade Balance worsened in line with expectations as the global recession is decreasing demand for US exports. Exports were weak and the news is negative for manufacturing.
- Treasury Budget indicated a record $20.9 billion deficit for April with the fiscal year deficit also at a record of $802.3.
- Retail Sales were unexpectedly negative and the decline was broad based.
- EIA Petroleum Report reflected a draw in crude and gasoline inventories suggesting an improvement in energy demand.
- PPI (Producer Inflation) increased with food prices leading the way. Rising energy and food prices do not corroborate the "deflation" propaganda promoted by the government.
- Jobless Claims showed large increases in both new claims and continuing claims. The overall unemployment rate now stands at 8.9% continues to increase.
- CPI (Consumer Inflation) showed an increase at the core level, mainly as a result of tobacco tax hikes.
- TIC (Treasury International Capital) showed that foreign holdings of US assets increased mainly in equities and treasuries. China and Japan both increased holdings of treasuries.
- Industrial Production decreased in April.
- Consumer Sentiment improved specifically with respect to consumer expectations of economic improvement.
Light week for economic data this week
