May 13, 2009 Trade deficit and retail sales
So the first two major economic indicators out this week are the national trade deficit and national retail sales. The national trade deficit widened to $27.6 billion — which is lower than the $29 billion economists forecasted. The U.S. deficit in international trade of goods and services increased to $27.58 billion from February’s revised $26.13 billion, according to the Commerce Department.
National retail sales, which was released this morning, however declined more than economists expected. The Commerce Department says retail sales for April declined 0.4% — while economists projected April sales to be flat.
Consumers pull back in April (cnnmoney.com)
Interesting WSJ blog post about what is causing concern with retail sales: Questions about consumers (basically jobs and wages still look pretty weak)