USD News

Pointing to a positive economic outlook in the first half of the year, the Conference Board released a report on Friday showing a bigger than expected increase by its index of leading U.S. economic indicators in the month of January.

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After reporting a drop in U.S. existing home sales in the previous month, the National Association of Realtors released a report on Wednesday showing that existing home sales rebounded by more than expected in the month of January. NAR said existing home sales surged up by 3.3 percent to an annual rate of 5.69 million.

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First-time claims for U.S. unemployment benefits saw a modest increase in the week ended February 18th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims rose to 244,000, an increase of 6,000 from the previous week's revised level of 238,000.

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Pending home sales in the U.S. unexpectedly plunged to their lowest level in a year in the month of January, according to a report released by the National Association of Realtors on Monday. NAR said its pending home sales index tumbled by 2.8 percent to 106.4 in January.

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After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Monday showing a rebound in durable goods orders in the month of January. The report said durable goods orders surged up by 1.8 percent in January after falling by a revised 0.8 percent in December.

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Economic growth in the U.S. in the fourth quarter of 2016 was unrevised in the latest report released by the Commerce Department on Tuesday. The report said gross domestic product increased by 1.9 percent in the fourth quarter, unrevised from the previous estimate.

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Growth in U.S. manufacturing activity accelerated by much more than anticipated in the month of February, the Institute for Supply Management revealed in a report on Wednesday. The ISM said its purchasing managers index climbed to 57.7 in February from 56.0 in January.

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Construction spending in the U.S. unexpectedly decreased in the month of January, according to a report released by the Commerce Department on Wednesday. The report said construction spending slumped by 1.0 percent to an annual rate of $1.180 trillion in January.

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Indicating continued strength in the job market, the Labor Department released a report on Thursday showing that first-time claims for U.S. unemployment benefits fell to their lowest level in over forty years in the week ended February 25th. The report said initial jobless claims dropped to 223,000.

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British service sector growth eased at a faster-than-expected pace in February to the weakest level in five months, survey data from IHS Markit and the Chartered Institute of Procurement and Supply showed Friday.

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