Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market News (01/16/2013)
MADISON, Wis. (1/16/13)

  • U.S. retail sales increased more than expected in December, even though consumers finished their holiday shopping--indicating people looked beyond lawmakers' budget battles and suggesting consumer spending gained momentum at year-end  (, The New York Times and Moody's Jan. 15). Sales rose 0.5% following a 0.4% gain in November, the Commerce Department said Tuesday. Economists had forecast a 0.2% retail-sales rise in December, according to a Bloomberg survey and a separate Reuters survey. Growth in incomes, an improving labor market, and discounting by chains boosted consumer spending, which constitutes roughly 70% of the U.S. economy, Bloomberg said. However, at the same time, higher payroll taxes, which kicked in this month, will reduce take-home pay and make it harder for households to increase their purchases, Bloomberg added …
  • For the third consecutive month, U.S. wholesale (producer) prices slid 0.2% in December, indicating that inflation remained tame as energy costs continue to decrease (The Wall Street Journal, The New York Times and Moody's Jan. 15). The producer-price index--which is a gauge of how much manufacturers and wholesalers paid for finished goods--fell to a seasonally adjusted 0.2% in December from November, the Labor Department said Tuesday. A 0.9% decrease in food prices and a 0.3% decline in energy costs drove the index's drop, the Journal said …

RSS print
News Now LiveWire
Why is a #creditunion a good fit for you? via @MONEY
7 hours ago
The numbers are in: Home Depot data breach impact on #creditunions = $57.4 million, 7.2 million credit/debit cards
8 hours ago
.@Nussle : We'll back off when retailers accept their breach responsibility #NewsNow
10 hours ago
RT @asmarterchoice: RT @daily_finance: Top 5 money management tips for 30-somethings
10 hours ago
Operational efficiencies focus of new @CUNA program #NewsNow
10 hours ago