This Week’s Top Economic Data Points: U.S. Growth Rate Predicted To Improve Over Coming Months
- The Conference Board’s Leading Economic Index for the United States rose to 130.4 in October from 129.2 in September, suggesting that “solid growth in the U.S. economy will continue through the holiday season and into the new year.”
- Canadian wholesale trade fell 1.2 percent due to lower sales of personal and household goods and food and beverages. Analysts had predicted a 0.3 percent increase. Motor vehicle and part sales were one area of strength, increasing 1.4 percent.
- According to the U.S. Labor Department, the number of individuals who filed for federal unemployment benefits fell to 239,000 for the week that ended Nov. 18, down from 252,000 the week before. The four-week moving average of first-time claims rose, however, as did the number of individuals who continued to file for benefits. That figure increased to 1.904 million for the week that ended Nov. 11, from 1.868 million the week before. The four-week moving average of continuing claims also increased.
- In other economic news: the University of Michigan’s index of consumer sentiment fell to 98.5 in November from 100.7 in October and the number of existing homes sold in the United States rose two percent from September 2017 to October 2017, but was still down 0.9 percent from October 2016 to October 2017.