The US Commerce Department, in its advance report reported that US business inventories increased to $1.422 trillion in November 2010, up 0.2% from October. It also noted total business sales increased by more, rising 1.2% to $1.33 trillion.

The Federal Reserve reported borrowing in the category that includes credit cards rose 3.5%, the first rise since August 2008, helping to boost overall consumer borrowing by 3% in December, to a seasonally adjusted annual rate of $2.41 trillion. Borrowing on auto loans increased 2.8%.

The International Council of Shopping Centers and Goldman Sachs reported its chain-store sales index for the week ending on January 29, 2011 fell 1.0% compared to the year-earlier period. Another week and another storm seemed to derail the consumers’ ability to shop, which in turn was accentuated since January is a low-volume month for sales. Nevertheless, ICSC is forecasting an increase of between 3% and 3.5% in same-store sales at leading US retail chains in 2011.

The Energy Department announced that for week ending January 31, 2011, the average price of U.S. gasoline fell to $3.101 a gallon, down from $3.110 per gallon week earlier. This is the first drop in eight weeks. Analysts expect regular-grade motor gasoline retail prices to average $3.22 per gallon in April through September with a a 25% probability that the national average retail price for regular gasoline could exceed $3.50 per gallon in the June through September period and an 8% to 10% probability that it could exceed $4 per gallon in August and September.

Diesel prices rose three cents to an average $3.43 per gallon.

The Conference Board announced Consumer Confidence increased slightly in January 2011 to 60.6, up 7.7% from 53.3 in December 2010. Analysts noted consumers rated business and labor market conditions more favorably and expressed greater confidence that the economy will continue to expand and generate more jobs in the months ahead. Income expectations are also more positive.

The Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas decreased 1.6% in November 2010, raising the possibility of a double-dip in home prices, and comes on top of a decrease of 1% in October.