Positive surprise from the US labor market. 280 American citizens filed for unemployment benefits for the first time last week, 36 fewer than the previous week.
The figure, released today by the US Department of Labor, marks the largest drop in the last two years, going far beyond the expectations of analysts, who had forecast a much more contained decline, at 305 thousand.
The average of the last four weeks - more reliable as less subject to market fluctuations - fell by 4.750 units, to 299.500.
As for US construction activity, it slowed last month after jumping to a post-recession high in July. According to reports from the US Department of Commerce, the index that measures the start of new construction sites fell by 14,4% to 956.000 units. Analysts were expecting a drop of 5,5%.
In July the figure had grown by 22,9% to 1,12 million units, the highest since November 2007 (figure revised upwards from the +15,7% of the first estimate). Building permits, which anticipate future activity in the construction sector, fell by 5,6%, following an 8,6% increase in July and more than the -1,1% expected by analysts.
