The number of Americans claiming new jobless benefits fell back to a four-year low last week and manufacturing in the Northeast held up in March, the government said Thursday, providing more signs the economy was on a growth path.
Separately, the Labor Department said its seasonally adjusted Producer Price Index increased 0.4 percent last month, quickening from Januarys 0.1 percent gain.
On the labor front, initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 351,000, the department said on Thursday. That took claims back to a four-year low reached in February.
In manufacturing, the Federal Reserve Bank of New York said its Empire State index, which measures general business conditions, rose to 20.21 points -- the highest level since June 2010 - from 19.53 in February.
This suggests that the recovery is firmly on track, said Scott Brown, chief economist at Raymond James in St. Petersburg, Fla.
http://www.nytimes.com/2012/03/16/business/economy/jobless-claims-dip.html
Separately, the Labor Department said its seasonally adjusted Producer Price Index increased 0.4 percent last month, quickening from Januarys 0.1 percent gain.
On the labor front, initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 351,000, the department said on Thursday. That took claims back to a four-year low reached in February.
In manufacturing, the Federal Reserve Bank of New York said its Empire State index, which measures general business conditions, rose to 20.21 points -- the highest level since June 2010 - from 19.53 in February.
This suggests that the recovery is firmly on track, said Scott Brown, chief economist at Raymond James in St. Petersburg, Fla.
http://www.nytimes.com/2012/03/16/business/economy/jobless-claims-dip.html