Weekly Jobless Claims Decrease as Producer Prices Rise
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Source: New York Times
Economic growth showed signs of becoming more robust as the number of Americans claiming new jobless benefits fell to a four-year low last week and manufacturing activity in the Northeast picked up this month, according to reports released Thursday.
But the effect of higher oil prices was also starting to be seen. Producer prices racked up their biggest increase in five months in February, while manufacturers in New York State reported a surge in input costs in March.
The recent gains in oil and gasoline prices have raised concerns that the higher costs could start to squeeze businesses and consumers and slow the recovery.
Still, producer prices last month did not rise as much as economists had expected, and underlying inflation pressures were containe
Read more: http://www.nytimes.com/2012/03/16/business/economy/jobless-claims-dip.html
Over all, this is good news--jobless claims down and demand is up. Prices are up, but not as much as feared. More evidence that the economy is moving toward recovery.
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