Initial Claims remained unchanged at 505,000 for the week ending 11/14, better than the expected decrease to 500,000, following a revised level of 532,000 from the previous week. The 4-week moving average was 514,000, a decrease of 6,500 from the previous week’s revised average of 520,500. Seasonally adjusted insured unemployment from the prior week, ending on 11/07, was 5,611,000, a decrease of 39,000 from the preceding week’s revised level of 5,650,000. Seasonally adjusted insured unemployment rate from the week ending on 11/07, was 4.3 percent, unchanged from the prior week’s unrevised rate of 4.3 percent.
The Conference Boards’ Leading Indicators Index numbers are expected today at 10:00 AM EST. The index increased by 1.0% to 103.5% (2004=100) in September, better than the expected increase by 0.8%, after it had increased by 0.4% in August, revised downward from a reported 0.6% increase. This was the 6th consecutive monthly increase in the index, following a 20 month decrease since the July 2007 peak, with a trend reversal in the current upswing which began in April. The Coincident Indicators was unchanged in September at 99.9 (2004=100), following an increase of 0.1% in August. The Lagging Indicators decreased by 0.3% to 109.6 (2004=100). The leading indicators advancing and the coincident indicators ceasing to decline in the recent month insinuate a bottoming out.
Upcoming Releases
Existing Home Sales (11/23 at 10:00 AM EST)
Disposable Personal Income (11/24 at 8:30 AM EST)
Consumer Confidence (11/24 at 10:00 AM EST)
Exports (11/24 at 8:30 AM EST)
