Data on the increase in demand for industrial goods in January is also presented.
Fewer Americans applied for unemployment benefits last week against the backdrop of a decline in coronavirus incidence in the United States. Still, the short-term outlook for the labor market remains unclear because, in the middle of this month, the southern part of the country was hit by extreme cold.
According to a report released by the Ministry of Labor, the number of applications for benefits fell to a three-month low, indicating a gradual recovery in the labor market. Also, on Thursday, data on the increase in demand for industrial goods in January were presented.
Last week, it was reported that in January, the volume of retail sales rose to record growth in seven months. All of this data may prompt economists to raise their growth estimates for the first quarter.
The flood of upbeat economic news is largely driven by the roughly $ 900 billion in aid disbursed in December and the reopening of many service businesses. Congress is currently considering another $ 1.9 trillion aid package.
Last week in the US, the number of initial claims for unemployment benefits fell by 111,000 to a seasonally adjusted 730,000, the lowest level since November. Economists polled by Reuters had forecast 838,000 applications.
Without taking into account, seasonal fluctuations in the number of applications decreased to 710 734 131 313. Sharply reduced the number of people employed in Ohio, where it was recorded
In the coming week, the number of applications may increase due to unfavorable weather conditions in the south of the country.
US stock exchanges opened lower on Thursday. The dollar declined against a basket of currencies, while treasury yields rose.
According to a revised estimate by the Commerce Department, gross domestic product for the fourth quarter of last year increased by 4.1 percent year-on-year. Last month, growth was estimated at 4 percent. The economy grew by a record 33.4 percent in the third quarter.