Applications for employment benefits are reported to be down and the GDP is up more than expected.
The United States economy grew slightly more than previously reported in the second quarter, helped by consumer spending and export growth that was stronger than earlier estimated, according to a government report on Thursday that pointed to slow growth rather than a recession.
The nation’s gross domestic product grew at an annual rate of 1.3 percent, the Commerce Department said in its third and final estimate for the quarter, up from the previously estimated 1.0 percent.
The revision was a touch above economists’ expectations for a 1.2 percent pace and took G.D.P. growth back to the government’s original estimate of 1.3 percent. The economy expanded at a 0.4 percent rate in the first three months of the year.
Separately, new claims for jobless benefits fell sharply last week to their lowest level since April, although a Labor Department official said government statisticians had problems seasonally adjusting the data. ...NYT
Inflation (PCE) has moved up a tick to 2.3 which is, let's face it, very low.