Data on 17th of April revealed an increase in the Philadelphia Fed’s factory index to 16.6 in April, which analysts state that it is the highest since September. A report from the Labor Department revealed a lower jobless claims in April, with the jobless claims at 304,000 till April 12th, which was the lowest since September 2007.
Another report by Intercontinental Exchange Inc. showed positive speculation on the greenback. The Dollar Index, a comparison of the greenback against six major trading partners of U.S., was little changed at 79.852, with expectations of a 0.5 % increase this week.
With the positive sentiment boosted by the improved climate, US consumer confidence has surged up from a nine-week low. Along with the optimistic employment prospects, this has boosted the economy.
Consumer spending in the spring is expected to rise with the higher wages. The retail sales saw an uptrend in March, the highest since September 2012. Official data revealed a hike in retail revenues by 1.1 %.
The Ward’s Automotive Group states that the automobile sales moved up at the fastest annualized rate since May 2007.
The Ward’s Automotive Group states that the automobile sales moved up at the fastest annualized rate since May 2007.
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