http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=2&u=/nm/20050224/bs_nm/economy_dcDurable Goods Orders Down, Jobless Up
By Tim Ahmann
WASHINGTON (Reuters) - New orders for long-lasting U.S. made goods slipped in January and initial claims for jobless benefits rose last week, but rising business demand for capital goods showed the economy still on solid ground.
New orders for durable goods, pricey manufactured items meant to last three years or more, tumbled 0.9 percent in January as demand for autos and civilian aircraft fell, the Commerce Department (news - web sites) said on Thursday.
Separately, the Labor Department (news - web sites) said first-time claims for state unemployment aid rose by 9,000 to 312,000 last week. Wall Street had looked for claims around 305,000.
While the headline figures suggested some weakening in economic conditions, details in the reports showed a rise in business spending plans and a drop in the overall number of people on the jobless benefit rolls.
http://www.dol.gov/opa/media/press/eta/ui/current.htm February 24, 2005
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending Feb. 19, the advance figure for seasonally adjusted initial claims was 312,000, an increase of 9,000 from the previous week's revised figure of 303,000. The 4-week moving average was 308,750, a decrease of 3,250 from the previous week's revised average of 312,000.
The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending Feb. 12, unchanged from the prior week's unrevised rate of 2.1 percent.
The advance number for seasonally adjusted insured unemployment during the week ending Feb. 12 was 2,650,000, a decrease of 62,000 from the preceding week's revised level of 2,712,000. The 4-week moving average was 2,696,000, a decrease of 40,250 from the preceding week's revised average of 2,736,250.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 305,345 in the week ending Feb. 19, a decrease of 3,789 from the previous week. There were 328,171 initial claims in the comparable week in 2004.
The advance unadjusted insured unemployment rate was 2.5 percent during the week ending Feb. 12, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,227,664, an increase of 11,233 from the preceding week. A year earlier, the rate was 3.0 percent and the volume was 3,729,369.
http://quote.bloomberg.com/apps/news?pid=10000006&sid=aSftBy62A2vk&refer=homeU.S. Jan. Durables Orders Fall 0.9%; Up 0.8% Ex-Trans (Update3)
Feb. 24 (Bloomberg) -- New orders for U.S. durable goods fell 0.9 percent in January, the first drop in three months, as a plunge in bookings for civilian aircraft and automobiles overshadowed increased demand for business equipment.
The decline followed a 1.4 percent increase in December that was stronger than previously estimated, the Commerce Department said today in Washington. Orders for military aircraft surged. Excluding transportation equipment, orders rose 0.8 percent last month after rising 2.8 percent.
Orders for non-defense capital goods excluding aircraft rose, which may reflect the improved optimism among corporate executives that Federal Reserve Chairman Alan Greenspan cited last week in Congressional testimony. Capital spending and corporate borrowing ``have firmed noticeably,'' he told the House Financial Services Committee.
A report today from the Labor Department showed that initial claims for unemployment benefits rose by 9,000 last week to 312,000. Claims the prior week were at the lowest in more than four years.
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