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Saturday, July 16, 2011

Wells Fargo's Weekly Economic Financial Commentary - July 15, 2011

- Retail sales were slightly better than expected during June, improving 0.1 percent month-over-month, as higher auto sales offset reduced spending on gasoline.

- The Producer Price Index fell 0.4 percent month-over-month in June, while the Consumer Price Index posted a 0.2 percent decline.

. Despite declines in overall inflation measures, core PPI and core CPI each rose 0.3 percent for the month.

- Declining commodity values caused import prices to fall in June, but prices remain 13.6 percent higher than a year ago.

- Industrial production grew at a 0.2 percent pace in June and is up 3.8 percent year-over-year, while manufacturing output was flat in June due to a two percent decline in motor vehicle production.

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