November 26, 2024

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  • More Good Econ News

    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 | TrackBack
    Comments

    Yea! 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
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