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News Link • Economy - Economics USA

U.S. consumer spending rises, jobless claims tumble

• Reuters
U.S. consumer spending and housing sales rose more than expected in October while new claims for jobless benefits fell sharply last week, suggesting the economic recovery was gaining traction.

An unexpected decline in orders for long-lasting U.S. manufactured goods, however, tempered some of the optimism and was a reminder that recovery from the most brutal recession in 70 years would be gradual.

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