Research Center

The Census Bureau reported on Tuesday that U.S. retail sales were up 0.5 percent from November to December (important note: the figures are adjusted for seasonal variation, but not price changes).

Fed chairman Ben Bernanke gave a speech at the University of Michigan on Monday, characterizing the U.S. economy as in a “relatively fragile recovery,” and noting that there has been only “modest improvement” in the labor market.

The U.S. Department of Commerce reported that the trade deficit (both goods and services) was up to $48.7 billion in November, compared with $42.1 billion in October.

Early indications were that retail sales during the holidays were modest, and now more data is coming in to reinforce the point.

Reis Inc. reported on Wednesday that the vacancy rate for regional malls declined to 8.6 percent in the fourth quarter of 2012, down from 8.7 percent in the third quarter and 8.9 percent in 4Q11.

Consumer borrowing rose at an annualized rate of 7 percent in November, according to the Federal Reserve on Tuesday. The lion’s share of the increase was non-revolving credit, especially student loans, which was up an annualized rate of 9.5 percent.

Bank of America reached an $11.6 billion settlement with Fannie Mae on Monday, putting the banking giant a step closer to putting the countrywide mortgage shenanigans of the 2000s to rest.

The Bureau of Labor Statistics said on Friday that the U.S. economy created 155,000 jobs in December, with healthcare, food services, construction and manufacturing all adding positions.