Data Suggests Slower US Economic Growth in Fourth Quarter
Unemployment applications unexpectedly down anyway
The number of Americans filing new claims for unemployment aid unexpectedly fell last week, but continued weakness in business spending on capital goods suggested slower economic growth in the fourth quarter.
Initial claims for state jobless benefits fell 10,000 to a seasonally adjusted 316,000, the Labor Department said on Wednesday. The second straight week of declines defied economists' expectations for a rise in claims to 330,000 and raised hopes for strong payroll growth in November.