Economics Update

It's jobless Thursday, and the initial jobless claims are out, initial claims down 16K to 453,000, and the less volatile 4 week moving average fell 6,250 to 458,000, a two month low, with continuing claims falling 83K to 4.46 million, and emergency claims falling 293K to 4.88 million.


Generally, the numbers are good, but still firmly in the 450-480K "sweet spot" where the numbers have lingered for most of this year.

Additionally, the revised GDP numbers have come out, and, for once, the numbers were revised up, from the truly anemic 1.6% annual rate releases last month to a (truly anemic) 1.7% annual rate.

In real estate, mortgage applications fell, despite falling rates, though the home purchase application index nosed up slightly.

In terms of the various indices out there, the Institute for Supply Management's Chicago PMI rose in September, beating estimates.

Generally a good news day for this economy, this.