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Jobless Claims Sharply Drop |
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Author: Elena Todorova
123jump.com
Last Update: 11:58 AM EST November 17 2005
Stock advanced on upbeat economic data. The Fed Reserve, informed that U.S. industrial production rose unexpectedly by 0.9% in October, fueled by manufacturing output. In another report, the Labor Department said that initial jobless claims dropped to 303,000, their lowest level since April, versus expected decline of 322,000. In less positive report, the Dept of Commerce said that new construction of U.S. homes fell 5.6% to seasonally adjusted annual rate of 2,014 million. |
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