US Economic Outlook Brightens on Jobs, Trade Data.
Source: NYT/AP
The outlook for the U.S. economy brightened a little Thursday after new data pointed to improvement in hiring and greater exports.
The number of Americans applying for unemployment benefits last week fell by 6,000 to a seasonally adjusted 361,000, the Labor Department said. Economists noted that the level suggests the modest job creation in July could carry over into August.
The U.S. trade deficit narrowed to $42.9 billion in June from $48 billion in May, the Commerce Department said in a separate report. That's the lowest level in 18 months.
The drop was largely because of cheaper oil imports. But exports also rose to a record-high $185 billion, an encouraging sign at a time when global growth has slowed. U.S. companies even sold more goods in Europe, despite the region's ongoing financial crisis.
Read more: http://www.nytimes.com/aponline/2012/08/09/us/politics/ap-us-economy.html?ref=aponline
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