Projected US GDP Positive; Unemployment Rate Fixed Threat

28 01 2011

Factory data and U.S. housing sector which was published last night, showed the economy was still growing strong in December but the pace is unlikely to make the Federal Reserve to reconsider its stimulus program.

Meanwhile, the Commerce Department showed the number of domestic factory orders rose 0.5% last month. However, a reduction of almost 100%
on aircraft orders lowering the average level of orders as much as 2.5%.

A separate report jobless claims data (Unemployment Claims) which was reported by the U.S. Labor Department, has decreased and the performance indicator figures reported previously climbed to 454K which is expected to rise to 407K from 404K.

Most economists and analysts tend to ignore the increase in the number of jobless claims, considered the decline was due to weather
not bad due to deteriorating labor market.

Market focus today is on data in Gross Domestic Product (GDP). Although estimates show an increase, to 3.6%, in our opinion not enough to lower the unemployment rate significantly.


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