US leading indicators point to slowdown-Jobless claims rose 7,000 last week

[NNN0LHI]

http://www.khaleejtimes.ae/DisplayArticleNew.asp?col=§ion=business&xfile=data/business/2006/September/business_September719.xml

US leading indicators point to slowdown
(AFP)

21 September 2006

WASHINGTON - An index of future US economic activity fell 0.2 percent in August, with a weak housing sector dragging on growth, the Conference Board said on Thursday.

The forward-looking index of leading US indicators fell for the second straight month, signalling slower economic activity in the coming six to nine months.

The decrease was in line with Wall Street forecasts and followed a 0.2 percent drop in July. The index has been lower in five of the past eight months.

The business research group said the weakness in the housing market and the auto industry offset the impact of lower fuel prices.


http://www.khaleejtimes.ae/DisplayArticleNew.asp?col=§ion=business&xfile=data/business/2006/September/business_September721.xml

US jobless claims rose 7,000 last week
(Reuters)

21 September 2006

WASHINGTON - The number of US workers filing new claims for jobless benefits rose by a larger-than-expected 7,000 last week but remained at a level suggesting stable labour market conditions, a government report on Thursday showed.


First-time claims for state unemployment insurance benefits rose to a seasonally adjusted 318,000 in the week ended Sept. 16, after an upwardly revised 311,000 in the prior week, the Labour Department said.

“The level is consistent with solid employment gains, indicating firms are inclined to take on new workers as they are seeing continued strong demand for their products,” said Paul Ferley, assistant chief economist for BMO Financial Group in Toronto.

Economists surveyed by Reuters were expecting claims to inch up to 310,000 from the original reading of 308,000 in the Sept. 9 week.