Jobless claims this morning came out at 397,000, up from last week’s 371,000. Our trade balance gap widened too, up by six billion in January. That puts it at $46.34 billion.
What does this mean? It could indicate a lower GDP number when it is next revised. Interestingly, China’s deficit grew as well.
Tomorrow’s reports on inventories and retail sales will give a sharper picture of the economy.