* Weekly jobless claims fall 3,000
* Consumer spending up 0.4 pct in Nov
* Durable goods orders fall 1.3 pct
* Orders ex-transportation surge 2.4 pct
WASHINGTON, Dec 23 (Reuters) – New U.S. claims for jobless
benefits dipped last week and consumer spending increased in
November for a fifth straight month, reinforcing views of a
solid economic growth pace in the fourth quarter.
Initial claims fell 3,000 to a seasonally adjusted 420,000,
the Labor Department said on Thursday, matching economists’
expectations.
A separate report from the Commerce Department showed
spending rose 0.4 percent after increasing by an upwardly
revised 0.7 percent in October.
Economists polled by Reuters had expected spending, which
accounts for about 70 percent of U.S. economic activity, to
rise 0.5 percent last month after a previously reported 0.4
percent gain in October.
“It hasn’t been such a bad year for the economy — we think
it will grow around 2.5 percent this year and 3.5 percent next
year. Unfortunately, it’s been a jobless recovery,” said
Michael Woolfolk, a senior currency strategist at BNY Mellon in
New York.
U.S. Treasury prices fell slightly after the data, while
stock index futures edged lower. The dollar held losses against
the yen, but maintained gains versus the euro.
In another report, the Commerce Department said orders for
long-lasting manufactured goods excluding transportation
increased 2.4 percent, the largest increase since March, after
a 1.9 percent drop in October.
But overall orders dropped by a larger-than-expected 1.3
percent last month, dragged down by a plunge in bookings for
civilian aircraft and motor vehicles.
“Durable goods orders were reassuring in that we saw a
manufacturing plateau over the summer and while the number
released today was not strong, at least it showed some
resilience in terms of capital goods orders apart from
aircraft,” said Pierre Ellis, a senior economist at Decision
Economics in New York.

* Weekly jobless claims fall 3,000    * Consumer spending up 0.4 pct in Nov    * Durable goods orders fall 1.3 pct    * Orders ex-transportation surge 2.4 pct
WASHINGTON, Dec 23 (Reuters) – New U.S. claims for joblessbenefits dipped last week and consumer spending increased inNovember for a fifth straight month, reinforcing views of asolid economic growth pace in the fourth quarter.    Initial claims fell 3,000 to a seasonally adjusted 420,000,the Labor Department said on Thursday, matching economists’expectations.    A separate report from the Commerce Department showedspending rose 0.4 percent after increasing by an upwardlyrevised 0.7 percent in October.   Economists polled by Reuters had expected spending, whichaccounts for about 70 percent of U.S. economic activity, torise 0.5 percent last month after a previously reported 0.4percent gain in October.   “It hasn’t been such a bad year for the economy — we thinkit will grow around 2.5 percent this year and 3.5 percent nextyear. Unfortunately, it’s been a jobless recovery,” saidMichael Woolfolk, a senior currency strategist at BNY Mellon inNew York.   U.S. Treasury prices fell slightly after the data, whilestock index futures edged lower. The dollar held losses againstthe yen, but maintained gains versus the euro.   In another report, the Commerce Department said orders forlong-lasting manufactured goods excluding transportationincreased 2.4 percent, the largest increase since March, aftera 1.9 percent drop in October.   But overall orders dropped by a larger-than-expected 1.3percent last month, dragged down by a plunge in bookings forcivilian aircraft and motor vehicles.   “Durable goods orders were reassuring in that we saw amanufacturing plateau over the summer and while the numberreleased today was not strong, at least it showed someresilience in terms of capital goods orders apart fromaircraft,” said Pierre Ellis, a senior economist at DecisionEconomics in New York.

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