Reports Brighten U.S. Growth Prospects
Prospects for U.S. growth brightened on Wednesday as new unemployment benefit claims decreased to a nearly three-year low and durable goods orders posted a surprisingly strong jump, government reports showed.A slew of economic indicators pointed to firmer business activity -- something that also should help reinforce a faster pace of growth by easing Americans' job fears and putting more cash in consumer wallets.
The Labor Department said first-time claims for state unemployment benefits dropped 11,000 to 351,000 in the week ended Nov. 22 -- the lowest since January 2024, before the economy slipped into recession.
The story has more indicators of note, including increased orders for durable goods, and specifically non-defense goods. In general the manufacturing news is quite good.
Posted by Steven Taylor at November 26, 2024 11:05 AM | TrackBackYea! Let's keep our fingers crossed that it keeps up. Regression toward the mean and all that.
Posted by: JC at November 26, 2024 12:44 PM