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Data hints U.S. recovery is becoming self-sustaining
WASHINGTON (Reuters) – New U.S. claims for jobless benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, suggesting the economy is nearing a self-sustaining recovery.
The picture was further brightened by another report on Wednesday that showed consumer sentiment in November reached its highest level since June, likely reflecting the surge in stock prices in the wake of a Federal Reserve decision to again loosen monetary policy.
But the upbeat mood was tempered somewhat by unexpected declines in new home sales and in orders for long-lasting manufactured goods in October.
http://news.yahoo.com/s/nm/20101124/bs_nm/us_usa_economy
i hope this is an accurate analysis...it would be great if our economy is on a steadfast road to recovery...
WASHINGTON (Reuters) – New U.S. claims for jobless benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, suggesting the economy is nearing a self-sustaining recovery.
The picture was further brightened by another report on Wednesday that showed consumer sentiment in November reached its highest level since June, likely reflecting the surge in stock prices in the wake of a Federal Reserve decision to again loosen monetary policy.
But the upbeat mood was tempered somewhat by unexpected declines in new home sales and in orders for long-lasting manufactured goods in October.
http://news.yahoo.com/s/nm/20101124/bs_nm/us_usa_economy
i hope this is an accurate analysis...it would be great if our economy is on a steadfast road to recovery...
