- Initial claims for unemployment benefit rise unexpectedly.
- Continued orders fall more than estimates to new lows since March.
The Labor Department reported Thursday that Initial claims for unemployment benefits increased by 31,000 in the week ended November 14 to 742,000. The market consensus was for a reading of 707,000. In this way, the initial orders rise again after falling for four consecutive weeks.
Regarding the continued ordersThese showed better than expected figures as they fell by 429,000 in the week ended November 7 to 6,372,000. The analyst estimate was for a reading of 6.47 million. It is the first reading below 7 million since March.
The trend in subsidy requests continues to decline, but gradually and is still well above pre-pandemic levels.
At the same time, the Philadelphia Federal Reserve Survey of the Manufacturing Sector was also published. The dollar rose marginally after the data. Later on Thursday will be released the data for existing home sales and the consumer confidence index from The Conference Board.
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