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US releases upbeat data ahead of holiday season

11-25-2010 13:41 BJT

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Some encouraging economic figures from the U.S. show improvement in the labor market, and signs consumers are ready to open their wallets ahead of the biggest shopping day of the year.

Promising signs from the economy as Americans prepare for the unofficial kick-off to the holiday shopping season.

First-time claims for unemployment benefits fell last week to a more than two-year low.

And spending is up. Consumer spending rose in October in the fourth monthly increase, according to the Commerce Department.

Recent signs of economic improvement are helping American shoppers feel better. Consumer sentiment rose to its highest reading since June, according to The Thomson Reuters-University of Michigan final reading for November.

But not all economic news was as good. New home sales surprisingly dropped in October. And orders for big-ticket items, known as durable goods, saw their biggest drop in almost two years. The pullback was felt across the board.

Editor:Xiong Qu |Source: CNTV.CN

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