Economy cooling after strong third quarter

Retail sales increased just 0.2% in October, following an increase of 0.7% in September.
NOV 14, 2007
By  Bloomberg
Government reports on retail sales and producer prices point to a cooling trend following a strong third quarter. Retail sales increased just 0.2% in October, following an increase of 0.7% in September. Retail sales are up 5.2% over the past 12 months, according to the Department of Commerce. Gasoline prices have risen 0.8% for October, following a 1.8% increase in September. Excluding gasoline sales, retail sales rose 0.1% last month. Inventory at U.S. businesses increased 0.6% in September, the most in two months, while inventories increased 0.4%, according to another Department of Commerce report. The Department of Labor said the producer price index increased 0.1%, while core prices-which exclude food and energy costs-were unchanged. The government began fiscal year 2007 with a $55.6 billion deficit, up sharply from a deficit of $49.3 billion last year, according to the Department of the Treasury, in a report released yesterday. Receipts increased to $178.2 billion in October, while outlays totaled $233.7 billion, the Department of The Treasury reported. The Congressional Budget Office last month estimated a deficit of $59 billion for October.

Latest News

US wholesale inflation surprises on food, energy prices
US wholesale inflation surprises on food, energy prices

The latest PPI print, clocking in north of 3 percent, adds to concerns that inflation is far from tamed.

Robinhood earnings surge as TradePMR acquisition plan rolls along
Robinhood earnings surge as TradePMR acquisition plan rolls along

The DIY investment giant's positive earnings surprise, surpassing $1 billion in revenue for the first time, puts it on strong footing for future expansion.

Advisors expect revenue boost this year as Secure 2.0 provisions kick in
Advisors expect revenue boost this year as Secure 2.0 provisions kick in

Most retirement plan specialists anticipate gain of up to 10%.

Debt has become a way of life for working Americans, report warns
Debt has become a way of life for working Americans, report warns

And they would have to work extra hard to pay it off.

Stock fragility near record levels, stirring memories of dot-com bubble
Stock fragility near record levels, stirring memories of dot-com bubble

BofA strategists highlight rising volatility's risk to largest US stocks.

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.