Store Sales down. Trade Deficit down.

ICSC-Goldman Store Sales (week ended 1/4/2013)

– Store Sales Week/Week -5.4%. Previous was +1.0%
– Store Sales Year/Year +1.7%.  Previous was 3.0%

Redbook Store Sales (week ended 1/4/2013)

– Store Sales Year/Year +4.1%.  Previous was +4.5%.

The week reported had New Years Day and horrible weather which will carry over into reducing sales this week as well.  It’s hard to get to the mall when it is so cold that the Chicago Zoo is putting its polar bear indoors to keep warm.

 
Trade Deficit (November 2013)

– Monthly Trade Deficit $34.3 billion. Previous was $39.3 billion.

This is the smallest monthly trade deficit since October 2009.  Exports are up and imports are down. Much of the drop has to do with oil.  Domestic oil production is up and the price of imported oil is down.  The ability of the U.S. to both generate enough solar power in the long run and to increase domestic oil production in the short run will help GDP.  The trade deficit takes a bite out of GDP.