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Economy in Brief
U.S. FHFA House Price Index Increases Minimally M/M, Weakens Y/Y
The FHFA U.S. House Price Index for home purchases inched 0.1% higher during May...
Philadelphia Fed Nonmanufacturing Business Activity in Partial Rebound
The Philadelphia Fed reported that its Nonmanufacturing Business Index of current conditions at the company level rose to 24.6 in July...
U.S. Energy Product Prices Slip
The pump price for a gallon of regular gasoline in the U.S. backpedaled to $2.75 (-2.9% y/y) last week...
U.K. CBI Survey-Weaker with Improved Outlook at Least on Paper
A plunge in orders vs. a slight uptick in expected output ahead...
Chicago Fed National Activity Index Steadies
The Chicago Fed reported that its National Activity index was little changed at -0.02 during June...
by Tom Moeller September 2, 2004
Initial claims for unemployment insurance jumped 19,000 to 362,000 last week on the heels of a 10,000 rise the week prior. Roughly half of both week's increases were due to the impact of Hurricane Charley on claims in Florida, according to the Labor Department. The Consensus forecast had beenfor 335,000 claims.
The 4-week moving average of initial claims rose to 343,000 (-14.4% y/y).
Continuing claims for unemployment insurance fell 5,000 following a downwardly revised 5,000 decline the week prior.
The insured rate of unemployment remained at 2.3%, where it has hovered since the end of April.
| Unemployment Insurance (000s) | 08/28/04 | 08/21/04 | Y/Y | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|
| Initial Claims | 362 | 343 | -12.6% | 399 | 403 | 403 |
| Continuing Claims | -- | 2,882 | -19.4% | 3,516 | 3,564 | 2974 |
