WASHINGTON (Reuters) - New claims for jobless benefits hit a five-month low last week and the economy was a touch stronger in the second quarter than previously thought, the latest suggestions a new recession is not in the cards.
A gauge of future homes sales, however, showed the housing sector remained on the rocks last month.
Initial claims for state unemployment benefits fell 37,000 to a seasonally adjusted 391,000, the Labor Department said on Thursday, well below economists' expectations for 420,000. However, it cautioned its seasonal adjustments may have overstated the strength.
via news.yahoo.com
