GDP QoQ Annualized
GDP Price Index
Initial Jobless Claims
Continuing Jobless Claims
The U.S. economy grew in the third quarter at the fastest pace in a year as gains in consumer spending and business investment helped support a recovery on the
brink of faltering.
Gross domestic product, the value of all goods and services produced, rose at a 2.5 percent annual rate, matching the median forecast of economists surveyed by Bloomberg News and up from a 1.3 percent gain in the prior quarter, Commerce Department figures showed today in Washington. Household purchases, the
biggest part of the economy, increased at a more-than-projected 2.4 percent pace.
Americans last quarter cut savings to boost purchases as incomes dropped by the most in two years, calling into question the sustainability of the acceleration in sales. With the lack of jobs holding back wages, the Obama administration and Federal Reserve policy makers have proposed additional measures aimed at stimulating growth and hiring.
Fewer Americans filed applications for unemployment assistance last week, while those on benefit rolls dropped to a three-year low, signaling limited improvement
in the labor market.
First-time jobless claims decreased by 2,000 to 402,000 in the week ended Oct. 22, Labor Department figures showed today in Washington. The median forecast of economists in a Bloomberg News survey called for a drop to 401,000. The number of people collecting unemployment benefits fell in the prior week by 96,000 to 3.65 million, the fewest since September 2008.
A little more troubling is that fact that today’s data showed the four-week moving average, a less volatile measure than the weekly figures, rose to 405,500 last
week from 403,750.
And of course, the revisions to previously released jobless claim numbers were all revised upward, which also is not a good trend.
Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury