February 25, 2010
“U.S. Jobless Claims Rise Unexpectedly” (Associated Press)
The number of newly laid-off workers filing applications for unemployment benefits in the U.S. unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.
“U.S. Economy: Equipment Demand Slows to Start 2010” (Bloomberg)
Orders for durable goods excluding transportation unexpectedly fell 0.6 percent, the most since August, while a measure of bookings for business equipment showed its biggest decrease in nine months, the Commerce Department in Washington said.
“New Home Sales Hit Record Low, Prices Tumble” (Reuters)
Sales of new homes unexpectedly fell to a record low in January while demand for loans to buy homes hit a 13-year low last week, fanning fears of renewed weakness in the housing market.
“Consumer Confidence in U.S. Falls More Than Forecast” (Bloomberg)
Confidence among U.S. consumers fell more than anticipated in February to the lowest level since April 2009 as the outlook for jobs diminished, a sign spending may be slow to gain traction as the economy recovers.