Separate report on Philly Fed Manufacturing Index showed that current manufacturing activity in the region increased from a revised reading of 19.7 in December to 23.6 this month. Forty percent of the firms reported increases in activity this month; 17 percent reported decreases. The general activity index has remained positive for six consecutive months, and the activity index reading was the highest since November 2014.
Unemployment Claims declined to 234,000
In the week ending January 14, the advance figure for seasonally adjusted initial claims was 234,000, a decrease of 15,000 from the previous week's revised level. The 4-week moving average was 246,750, a decrease of 10,250 from the previous week's revised average. This is the lowest level for this average since November 3, 1973 when it was 244,000There were no special factors impacting this week's initial claims.
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