Latest weekly jobless claims (Apr 11) came in at 610k, someway below the median forecast of 658K and something of a pleasant surprise. However the previous week was revised up to 663k from initial 654k. Continued claims rose to a record 6.02 mln above the median forecast of 5.89 mln. Despite the latest weekly improvement numbers still tell a very sorry tale.
US housing starts for March came in at 510k, below the median market forecast of 540k and the second lowest on record, while building permits came in at 513k against median forecast of 549k and the lowest on record. Not good news. Housing sector remains in the dumpster.
