Thursday Economic Reports: Better Jobless Claims, Decent Retail Sales Meet Deflation

24/7 Wall St.

Stock Split ImageThursday finally brought on a lot of new economic data for investors to peruse from the Labor Department and Commerce Department. This on the heels of several days in a row of almost no real economic reports worth noting. Released were the weekly jobless claims, retails sales and import/export prices.

Weekly jobless claims came in at 334,000, but Bloomberg had estimates of 350,000, versus a preliminary report of 346,000 last week (last week was unrevised). The four-week average fell by 7,250 to 345,250, and the continuing jobless claims (with a one-week lag) were up by 2,000 to 2,973,000.

Retail sales came out for the month of May at +0.6%, above the Bloomberg consensus estimate of 0.5% on the headline data. Ex-auto retail sales were up by 0.3%, versus the Bloomberg consensus of 0.4%. This was pretty much right in line with estimates.

The last reading that the investment community was…

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About docjonz

I am an Associate Professor of accounting at Hofstra University in Hempstead, NY. Additionally, I have more than 30 years of professional accounting experience in various capacities including auditing, accounting standard setting and corporate accounting policy.
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