By Evelina M. Tainer, Chief Economist, Econoday
September 12, 2003

Economic indicators were relatively sparse this week. Retail sales rose in August but less than predicted by economists, disappointing equity investors but heartening those in the bond market. Jobless claims, after a few weeks of improvement, are starting another run up over 400,000; this suggests that the jobless recovery remains true to its name. The international trade deficit widened a bit in July, a drag on domestic growth. The PPI jumped 0.4 percent in August, once again boosted by accelerating energy prices. All in all, it wasn't a fabulous week for equity investors. The economic recovery is solid, but not exciting. The bond market extended its rally another week.