Also on September 17th, the date of the extremely anticipated decision by the Federal Reserve, we have the regular flow of data.
And also on this day, we get the Fed’s dilemma: jobs are doing well, as seen in a nice drop in claims, while other figures are quite mixed.
Jobless claims dropped to 264K, better than 275K expected. This is close to the multi-year lows. While the statistic has been skewed by the Labor Day holiday, it is still encouraging. Continuing claims are at 2237K.
The US maintains a large current account deficit, but this was not surprising with -110 billion dollar.
However, building permits came out at 1.17 million as expected while housing starts missed with 1.13 million, and with a downwards revision for July.
The last data point was the most disappointing one: the Philly Fed Manufacturing Index fell to negative territory with -6 points, worse than a +6.1 figure that was predicted.
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