USD News

While the Institute for Supply Management released a report on Friday showing that activity in the U.S. service sector saw continued growth in the month of January, the pace of growth in the sector slowed slightly compared to the previous month. The ISM said its non-manufacturing index edged down to 56.5 in January from a revised 56.6 in December.

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Reflecting a sharp increase in the value of exports, the Commerce Department released a report on Tuesday showing that the U.S. trade deficit narrowed by more than expected in the month of December. The Commerce Department said the trade deficit narrowed to $44.3 billion in December from a revised $45.7 billion in November.

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After reporting a sharp increase in U.S consumer credit in the previous month, the Federal Reserve released a report on Tuesday showing that consumer credit rose by less than expected in December. The Fed said consumer credit climbed by $14.2 billion in December after surging up by a revised $25.2 billion in November.

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Partly reflecting a jump in petroleum inventories, the Commerce Department released a report on Thursday showing a notable increase in U.S. wholesale inventories in the month of December. The Commerce Department said wholesale inventories climbed by 1.0 percent in December, matching the increase seen in November as well as economist estimates.

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First-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended February 4th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims dropped to 234,000, a decrease of 12,000 from the previous week's unrevised level of 246,000.

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After showing U.S. consumer sentiment at a thirteen-year high in the previous month, the University of Michigan released a report on Friday showing that consumer sentiment has pulled back by more than expected in February. The preliminary report showed that the consumer sentiment index dropped to 95.7 in February from the final January reading of 98.5.

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Reflecting another substantial increase in prices for fuel imports, the Labor Department released a report on Friday showing that U.S. import prices rose by more than expected in the month of January. The report said import prices increased by 0.4 percent in January after climbing by an upwardly revised 0.5 percent in December.

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Partly reflecting a jump in energy prices, the Labor Department released a report on Tuesday showing that U.S. producer prices rose by more than expected in the month of January. The Labor Department said its producer price index for final demand climbed by 0.6 percent in January after rising by 0.2 percent in December.

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Partly reflecting a decrease in buyer traffic, the National Association of Home Builders released a report on Wednesday unexpectedly showing a continued decrease in U.S. homebuilder confidence in the month of February. The report said the NAHB/Wells Fargo Housing Market Index dropped to 65 in February from 67 in January.

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Business inventories in the U.S. increased in line with estimates in the month of December, according to a report released by the Commerce Department on Wednesday. The Commerce Department said business inventories rose by 0.4 percent in December after climbing by an upwardly revised 0.8 percent in November.

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