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Saturday, November 12, 2011

Wells Fargo's Weekly Economic & Financial Commentary- November 10, 2011

- The trade balance narrowed during September to -$43.1 billion from -$44.9 billion in August, as exports rose 1.4 percent and imports grew a more modest 0.3 percent.

. Import prices declined 0.6 percent and export prices fell 2.1 percent due to sharp declines in the rate of inflation for agricultural, food, and industrial supplies.

- The NFIB survey for October revealed that just three percent of respondents have plans to hire, suggesting it is unlikely the small business sector will meaningfully contribute to growth anytime soon.

- Initial jobless claims continued their gradual decline last week as 390,000 first-time claims were filed, the lowest level in seven months.

. The four-week moving average, meanwhile, fell to the important 400,000 mark which typically signals stronger job growth.

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