Initial Claims decreased to 439,000, for the week ending 03/27, beating the expected decrease to 444,000, after decreasing to 445,000, the revised level for the previous week. The 4-week moving average decreased to 447,250, from the previous week’s revised average of 454,000. Seasonally adjusted insured unemployment from the prior week, ending on 03/20, was 4,662,000, a decrease of 6,000 from the preceding week’s revised level of 4,668,000. Seasonally adjusted insured unemployment rate from the week ending on 03/20, was 3.6%, unchanged from the previous week’s unrevised figure of 3.6%. Tomorrow, the monthly employment situation is scheduled for release by the Bureau of Labor Statistics at 8:30 AM EST and the unemployment rate is expected to remain unchanged at 9.7% for March from 9.7% recorded in February.
ISM Manufacturing Index figures are expected today at 10:00 AM EST. The ISM Manufacturing Index decreased to 56.5 in February, following an increase to 58.4 in January from the 55.9 level in December.
Construction Spending figures are expected today at 10:00 AM EST. Construction Spending fell by 0.6% to $884.1 billion during January. Year over year, construction spending had declined by 9.3% from the January 2009 estimate of $974.3 billion.
Upcoming Releases
Construction Spending (04/01 at 10:00 AM EST)
ISM Manufacturing Index (04/01 at 10:00 AM EST)
Unemployment Rate (04/02 at 8:30 AM EST)
Pending Home Sales (04/05 at 10:00 AM EST)
Unemployment Rate (04/02 at 8:30 AM EST)
Pending Home Sales (04/05 at 10:00 AM EST)
