The trade deficit widened slightly in August as both imports and exports slowed. The drops were broad based but the drop in shipments to Europe showed the greatest decline.
Commercial and industrial loans jumped 14% in July. The growth, which is twice as fast as other bank lending activities, is the one bright spot in the banking sector. This trend is not new but analysts are concerned about how long this trend can continue with the economic recovery losing steam.
The CPI rose last month most on higher energy prices which jumped 9%. Retail sales were higher also due to a sharp increase in gasoline and vehicle sales.
Family income has shrunk to levels not seen since 1995 as income fell for the fourth year in a row. The poverty rate which has risen the last four years leveled off in 2011.
In a first, the Securities and Exchange Commission fined the New York Stock Exchange $5 million, alleging the exchange had delivered valuable trading information to preferred customers before sharing with others. The information in question was released only seconds ahead for some customers. However, in this day and age of lightening fast program trading, it still gives firms an advantage to jump ahead of the rest of the crowd. High speed trading is accounting for more and more volume on the exchanges.
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