Economy/Ecommerce

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.

The final monthly employment report of 2012, released by the Bureau of Labor Statistics on Friday, pointed to continuing tepid growth in U.S. employment.

CoreLogic said that the residential shadow inventory as of October 2012 fell to 2.3 million units, which it calculates represents a supply of seven months.