Productivity, Credit, Trade Up; Funds Rate Steady

US Chamber Report: August 14, 2007–Nonfarm business productivity increased 1.8% in the 2nd
quarter as unit labor costs grew 2.1%. For the ninth straight meeting, the
FOMC held the funds rate steady at 5.25%.

Consumer credit rose 6.5% to $2.459 trillion in June as both revolving and
nonrevolving credit increased. Lastly, wholesale inventories increased 0.5%
while sales jumped 0.6%.

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