Initial Claims increased to 445,000, for the week ending 01/08, the largest increase in 6 months, against the expected decrease to 404,000, after increasing to 410,000, the revised level for the previous week. The 4-week moving average increased to 416,500, from the previous week’s revised average of 411,000. Seasonally adjusted insured unemployment from the prior week, ending on 01/01, was 3,879,000, a decrease of 248,000 from the preceding week’s revised level of 4,127,000. Seasonally adjusted insured unemployment rate from the week ending on 01/01, was 3.1%, a decrease of 0.2% from the previous week’s unrevised figure of 3.3%.
The Producer Price Index increased by 1.1% in December to 183.0(1982=100), the sixth such straight rise, higher than the expected 0.8% increase, following a 0.8% increase in November and a 0.4% increase in October. Over the year, the index has advanced 4.0%, after climbing 4.3% in 2009. The index for energy goods increased by 3.7% in December whereas prices for consumer foods increased by 0.8%. Excluding food and energy prices, Core PPI increased by 0.2% after increasing by 0.3% in November. Around 60% of the December increase can be attributed to a 2.9% rise in cigarette prices.
The Trade Deficit decreased by $0.1 billion to $38.3 billion in November, against the expected increase to $40.7 billion, from a revised figure of $38.4 billion for October. November exports increased by $1.2 billion to $158.4 billion, offset by imports, which increased by $1.1 billion to $196.8 billion. The Commerce Department provided the October figures of the trade balance of the U.S. relative to selected trading partners, in billions of dollars, with surpluses in Hong Kong ($1.9), Australia ($1.2), Singapore ($0.5) and Egypt ($0.4). Deficits were recorded, in billions of dollars, with China ($25.6), OPEC ($7.0), the European Union ($7.1), Mexico ($5.6), Japan ($5.8), Canada ($1.8), Nigeria ($1.7), Venezuela ($1.6), Ireland ($2.3), Germany ($3.1), Taiwan ($0.8) and Korea ($1.6).
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