Redbook said, "The week ended on a stronger note than it began. Not surprisingly, food and pre-Thanksgiving special promotions drew in customers. Department stores indicated that sales were driven by strength in apparel and seasonal merchandise."

           
3Q Real Personal Consumption Expenditures increase 2.9%.

     
U.S. consumer confidence improved in November, recovering somewhat from a sharp drop in October to beat economists expectations, according to a report Tuesday.

           
However, other elements of the report showed that U.S. consumers continue to be especially anxious about a sluggish U.S. economy.

           
The Conference Board, a private research group, said its index of consumer confidence for November moved to 49.5 from a revised 48.7 in October. The October index had previously been reported at 47.7.

           
The current month's reading was above economists' expectations for a 47.0 reading, according to a survey conducted by Dow Jones Newswires.

           
The index continues to be held up by respondents' expectations for economic activity in the future, with that component showing an increase to 68.5 from 67.0 in October. But this was again offset by a weak present conditions index, which fell slightly to 21.0 from 21.1.

           
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index was unchanged in the week ended Saturday from its level a week before on a seasonally adjusted, comparable-store basis.

           
On a year-on-year basis, the reading climbed 3.3%, with an easy comparison allowing the figure to post its biggest increase since July 2007.

           
Nonetheless, ICSC trimmed its forecast for November same-store sales growth to 4% to 6% from 5% to 8%. But ICSC chief economist Michael P. Niemira noted, "So much of the monthly performance rides on Bargain Friday shopping" the day after Thanksgiving.

            The group also noted that 15% of households have completed at least half of their holiday shopping, the highest level in five years.

Week Ending  Index 1977=100 Yr/Yr Change  Weekly Change

   21-Nov-09      490.2         3.3%           0.0%

   14-Nov-09      490.2         2.4%          -0.1%

   07-Nov-09      490.9         2.9%          -0.1%

   31-Oct-09      491.3         1.9%           0.1%

S&P Case-Shiller says 20 metro area home prices rose for the 5th straight month. Their home index rose 0.3% in September from August. The 20-city index yoy fell 9.4%. the national index for the 3rd quarter rose 3.1% qoq, the same as in the 2nd quarter.

           
The FDIC insurance fund is broke with an $8.2 billion debit balance, as the banking industry had 3rd quarter profits of $2.8 billion.

           
The Fed on Tuesday sold $42 billion in 5-year notes.

           
S&P says most global banks are still unsafe. That includes every bank in Japan, the US, Germany, Spain and Italy. The broke FDIC says the number of banks on the problem list rose to 552 from 416. These same banks recently borrowed $11.7 trillion. Where did all the money go? The savings of the average American are being squandered.

           
Total US government obligations are $114.7 trillion as of the end of 2009.

           
Lending by U.S. banks plunged by 2.8 percent in the third quarter, the largest drop since at least 1984 and the fifth consecutive quarter in which banks have reduced lending, the Federal Deposit Insurance Corp. reported Tuesday.

           
The decline in lending is emerging as a serious impediment to economic recovery. Banks reduced the amount of money extended to their customers by $210.4 billion between July and September, cutting back in almost every category, from mortgage lending to funding for corporations.

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