Jobless Claims Drop; Spending Goes Up; Orders Fall
The latest economic numbers to consider:
-- The number of first-time claims for unemployment benefits declined to 407,000 last week, the Employment and Training Administration says, from 441,000 the week before. The last time weekly claims were this low: July 2008.
-- As personal income rose 0.5% in October from September, consumer spending went up 0.4%, the Bureau of Economic Analysis says. According to the Associated Press, "the increases in both income and spending last month were the most since August."
-- But the Census Bureau says orders for "manufactured durable goods" fell 3.3% in October from September. Bloomberg News says the decline was unexpected and raises the risk "that companies will scale back on investments in new equipment."
Planet Money follows the economy over here. Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.