America

Jobless Claims Drop; Spending Goes Up; Orders Fall

The latest economic numbers to consider:

— The number of first-time claims for unemployment benefits declined to 407,000 last week, the Employment and Training Administration says, from 441,000 the week before. The last time weekly claims were this low: July 2008.

— As personal income rose 0.5% in October from September, consumer spending went up 0.4%, the Bureau of Economic Analysis says. According to the Associated Press, "the increases in both income and spending last month were the most since August."

— But the Census Bureau says orders for "manufactured durable goods" fell 3.3% in October from September. Bloomberg News says the decline was unexpected and raises the risk "that companies will scale back on investments in new equipment."

Planet Money follows the economy over here.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.