Economy in Brief: January 2002

The US foreign trade deficit fell as expected versus October that was little revised. Exports rose moderately, but remained down 14.8% from their peak in August 2000.Exports of goods fell moderately and were down 16.6% from their [...]

Housing starts fell more than expected last month despite moderate weather. November starts were revised down mostly because of a lowered estimate of single-family building. The decline in the total was due to a sharp 26.5% decline [...]

Consumer prices were weaker than expected last month, declining rather than remaining unchanged as expected. Core inflation at 0.1% was slightly below expectations for a 0.2% rise. Again, energy prices led the weakness in the CPI with [...]

Retail sales fell less than expected last month and November sales were revised up to show less of a decline. Less autos, sales fell about as expected. November results were revised up. Strength in sales of furniture, home furnishings [...]

Finished producer prices fell more than expected last month. A 0.2% decline was the consensus expectation. While energy prices fell more than expected, the 0.1% decline in core prices was unexpected. Core finished consumer goods [...]

Prices for imported commodities fell twice as much as expected last month, and by a record amount for all of last year. Petroleum import prices again collapsed, falling for the eighth month of the year. As of early January, crude oil [...]

Consumer borrowing surged unexpectedly by a record amount in November, spurred by 0% auto financing and a surge in revolving credit. The gain in nonrevolving credit (autos and other personal loans) fell slightly versus October, when [...]

Nonfarm payrolls fell last month by the least amount in four months and by slightly less than consensus estimates for a 170,000 worker decline. Prior months' figures were little revised. From the household survey, the unemployment [...]