Latest Economic News From The U.S. And Canada
- Manufacturing sales in Canada increased 2.1 percent from August to September, a stronger reading that analysts had predicted. An strong rise in transportation equipment sales led the increase.
- U.S. sales at merchant wholesalers increased 0.2 percent from August 2014 to September 2014 and 5.2 percent between September 2013 and September 2014. Inventories were up 0.3 percent for the month and 7.4 percent year-over-year while the inventory-to-sales ratio increased to 1.19 in September 2014 from 1.16 in September 2013.
- The number of Americans who filed for federal unemployment benefits for the first time increased to 290,000 for the week that ended Nov. 8 from 278,000 the week before. The four-week moving average of first-time claims also increased while the number of Americans who continued to receive benefits rose to 2.392 million for the week that ended Nov. 1 from 2.356 million the week before. Meanwhile, according to the U.S. Labor Department, there were 4.7 million jobs open in the U.S. in September.
- In other economic news: an advance reading showed U.S. retail sales increased 0.3 percent from September 2014 to October 2014 and 4.1 percent year-over-year while the National Federation of Independent Business’s index of small business confidence increased slightly this month.