US sales data down despite jobless claims fall

first_imgThursday 24 February 2011 12:27 pm US sales data down despite jobless claims fall whatsapp alison.lock Share New US claims for jobless aid fell last week, hinting at an improvement in the labour market, but declines in new home sales and orders for a range of factory goods in January showed the economy still faced headwinds.Initial claims for state unemployment insurance benefits fell 22,000 to a seasonally adjusted 391,000, the Labor Department said on Thursday. Economists had expected claims to drop to 400,000 last week.“Jobless was unambiguously good news for the economy. It is consistent with our belief that we are going to see a very strong gain in non-farm payrolls,” said David Resler, chief economist at Nomura Securities International in New York.A separate report from the the Commerce Department showed new single-family home sales tumbled 12.6 per cent in January to a seasonally adjusted 284,000 unit annual rate. Economists had forecast new home sales sliding to a 310,000-unit pace.Sales surged in December as buyers in California rushed to take advantage of a tax credit for new homes before it expired at the end of the year. Sales in the West plunged 36.5 per cent after spiking 62.5 per cent the prior month.A second report from the department showed orders for long-lasting manufactured goods, excluding transportation, dropped 3.6 per cent last month, the biggest fall since January 2009, after rising three per cent in December.Economists had expected orders excluding transportation to rise 0.4 per cent in January.But the data has had little impact on US financial markets, where traders continued to monitor the worsening political unrest in Libya, which has sent crude prices soaring. US Treasury debt prices rose on safe-haven buying, while stocks were flat. Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrapcenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULL Show Comments ▼last_img

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