Economics
Data Deluge Shows Uneven Progress in U.S. Economic Recovery
- Jobless claims rise for second straight week amid virus surge
- Durable goods orders, home sales show resilient strength
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A smorgasbord of U.S. data on the eve of the Thanksgiving holiday showed lingering signs of both strain and strength in an economy trying to escape the clutches of the coronavirus.
The number of people applying for state unemployment benefits unexpectedly increased in consecutive weeks for the first time since July, Americans’ income declined more than forecast in October and consumer sentiment dipped to a three-month low. At the same time, the consumer remains healthy, powering the housing market and manufacturing demand.